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Micron Technology Climbs Pre-Market On $6.1 Billion U.S. Subsidy Approval: Retail Turns Bullish

Micron Technology Climbs Pre-Market On $6.1 Billion U.S. Subsidy Approval: Retail Turns Bullish


Published on 2024-12-10 13:02:16 - MSN
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  • Micron Technology's stock climbed as much as 2% pre-market after the U.S. Department of Commerce finalized a more than $6.1 billion subsidy for the memory chip-maker. The investment, unchanged from the amount initially announced in April,

Micron Technology Inc. experienced a significant pre-market surge after the U.S. Department of Commerce approved a $6.1 billion subsidy under the CHIPS and Science Act to support the construction of a new semiconductor manufacturing facility in New York. This approval is part of a broader initiative to bolster domestic semiconductor production, aiming to reduce reliance on foreign manufacturing and enhance national security. The news has led to a bullish outlook among retail investors, with Micron's stock price reflecting positive market sentiment. The facility is expected to create thousands of jobs and contribute to the local economy, while also positioning Micron to expand its production capacity significantly.

Read the Full MSN Article at:
[ https://www.msn.com/en-us/money/economy/micron-technology-climbs-pre-market-on-6-1-billion-u-s-subsidy-approval-retail-turns-bullish/ar-AA1vBkZv ]
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