Why Micron Shares Are Diving

Micron Technology Inc MU shares are trading lower by 2.5% to $70.00 Friday afternoon amid weakness in semiconductor and chip stocks. Taiwan Semiconductor Manufacturing Company (TSMC) has reportedly told its suppliers to postpone the delivery of high-end chipmaking equipment amid demand uncertainty.

Micron is a semiconductor manufacturer, and like many semiconductor companies, it relies on a complex global supply chain for materials, equipment and technology.

TSMC is a key player in this supply chain, and any disruption or uncertainty in TSMC's production plans can have a ripple effect throughout the semiconductor industry.

This includes potential delays in the supply of critical components, materials, or equipment to companies like Micron, which can disrupt their production schedules and increase costs.

What Happened?

While suppliers anticipate this delay to be short-term, TSMC's caution reflects concerns about the outlook for the market, primarily driven by weaker economic conditions, slower recovery in China, and softer end-market demand...Read More

According to data from Benzinga Pro, Micron has a 52-week high of $74.77 and a 52-week low of $48.43.