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Micron Stock Rises on Sympathetic Momentum from SK Hynix’s HBM4 Breakthrough
Micron Stock Rises on Sympathetic Momentum from SK Hynix’s HBM4 Breakthrough
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BTCCSquare news:
Micron Technology shares surged 4.6% as the memory-chip sector rallied behind SK Hynix's announcement of the world's first HBM4 product. The South Korean chipmaker's breakthrough—boasting doubled bandwidth and 40% improved power efficiency—ignited Optimism for broader industry demand, particularly in AI-driven markets.
Despite being competitors, Micron benefits from shared supply-demand dynamics in memory chips. The company has already sold out its HBM capacity for 2024, insulating near-term results but positioning it to capitalize on potential price increases across the sector. This marks Micron's second consecutive day of gains amid a bullish week for AI-related stocks.
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