Advanced Micro Devices, Inc. AMD andNVIDIA Corporation NVDA are trading marginally higher by 1.36% to $95.85 and 1.83% to $268.92, respectively, Wednesday afternoon.
Shares of semiconductor companies are trading higher in sympathy with Micron, which said customer inventories have declined in several end markets.
What's Going On With Micron?
Micron on Tuesdayreported quarterly losses of$1.91per share which missed the analyst consensus estimate of a loss of 81 cents.
The company also reported quarterly sales of$3.69 billionwhich missed the analyst consensus estimate of$3.72 billionbyroughly 1%. This sales figure represents a52.6%decrease over sales of$7.79 billion in the same period last year.
"Micron delivered fiscal second-quarter revenue within our guidance range in a challenging market environment. Customer inventories are getting better, and we expect gradual improvements to the industry's supply-demand balance," saidSanjay Mehrotra, president and CEO of Micron…Read More
According to data fromBenzinga Pro: AMD has a 52-week high of $125.67 and a 52-week low of $54.57. NVDA has a 52-week high of $284.96 and a 52-week low of $108.13.