Micron (NASDAQ: MU) stock moved lower in Tuesday’s trading — a session that saw significant swings for major indexes. The company’s share price fell 3.4% in the day’s trading and had been down as much as 4.5% shortly after the market opened. Meanwhile, the S&P 500 (SNPINDEX: ^GSPC) rallied back from significant early sell-offs to end the day roughly in line with yesterday’s close, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) slipped 0.4%.
Micron faced selling action today following a Wall Street Journal report that said that the Stargate Project’s $500 billion artificial intelligence (AI) infrastructure initiative had run into challenges. Even though the broader market saw recovery in the afternoon on news that the U.S. has reached a trade agreement with the Philippines, the memory chip specialist’s valuation was kept in the red by the Stargate news.
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