Sunday, 29 December 2024 10:00 AM
Class Action
NEW YORK CITY, NY / ACCESS Newswire / December 29, 2024 / Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Micron Technology, Inc. ("Micron" or "the Company") (NASDAQ:MU). Investors who purchased Micron securities are encouraged to obtain additional information and assist the investigation by visiting the firm's site: bgandg.com/MU.
Investigation Details
On December 18, 2024, Micron announced financial results for its first quarter of fiscal year ("FY") 2025 and issued disappointing guidance for its second quarter of FY 2025. In response to the announcement, securities analysts commented on the reduced guidance and lowered their price targets for Micron stock given the weakness in the Company's consumer chips business. For example, UBS wrote that "[g]uidance was below even the most bearish bogeys we heard into the report, with the company citing ongoing malaise in consumer markets." Similarly, a Bank of America analyst indicated Micron's revenue from sales of its AI memory chips cannot offset the "downward pressure" caused by weak demand for those used in personal computers and smartphones. On this news, Micron's stock price fell $16.81 per share, or 16.2%, to close at $87.09 per share on December 19, 2024.
What's Next?
If you are aware of any facts relating to this investigation or purchased Micron securities, you can assist this investigation by visiting the firm's site: bgandg.com/MU. You can also contact Peretz Bronstein or his client relations manager, Nathan Miller, of Bronstein, Gewirtz & Grossman, LLC: 332-239-2660
There is No Cost to You
We represent investors in class actions on a contingency fee basis. That means we will ask the court to reimburse us for out-of-pocket expenses and attorneys' fees, usually a percentage of the total recovery, only if we are successful.
Why Bronstein, Gewirtz & Grossman
Bronstein, Gewirtz & Grossman, LLC is a nationally recognized firm that represents investors in securities fraud class actions and shareholder derivative suits. Our firm has recovered hundreds of millions of dollars for investors nationwide.
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CONTACT
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Nathan Miller
332-239-2660 | [email protected]
SOURCE: Bronstein, Gewirtz & Grossman, LLC