What's Going On With Micron Technology Stock Thursday?

Micron Technology, Inc MU needs to catch up on its ambitious plan to build semiconductor fabs in Syracuse, New York, due to environmental hurdles.

The project, which aims to create up to 9,000 jobs and bolster domestic chip production, encountered issues after endangered bat species popped up at the proposed site.

As part of its environmental review, Micron found two endangered North American bat species in White Pine Commerce Park, alongside federally regulated wetlands and streams, Bloomberg reports. The company cannot cut down trees until the bats hibernate in November. The stock is trading lower on Thursday.

These environmental requirements have pushed Micron’s groundbreaking into 2025.

Micron’s project benefits from a preliminary Chips Act deal and incentives from New York State.

Micron plans to start construction once state and federal reviews are completed.

Micron is also looking to expand its high-bandwidth memory chip production in the U.S. significantly and is considering manufacturing in Malaysia.

Analysts expect Micron’s strength to continue into the fourth quarter with DRAM and NAND pricing. They expect memory to remain in undersupply, driving higher average selling prices, revenue, margins, and EPS.

Price Action: MU shares traded lower by 2.26% at $149.98 at the last check Thursday.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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