New OpenAI Partnership Sends Micron Shares Lower

OpenAI announced a new partnership with Samsung and SK Hynix.

This caused Micron shares to fall by about 1.5%

immediately after the announcement, as this partnership could intensify competition

in the memory chip market.

Micron has also announced that it may enter into a future

supply partnership with OpenAI or a larger AI data center partner.

It's worth noting that Samsung and SK Hynix control approximately 70%

of DRAM memory production and 80% of the HBM memory market.

Technical Outlook for the Stock

Regarding the technical outlook for Micron stock,

the stock is currently trading at $168.

With price action supporting a continued upward trend,

especially if the next resistance areas are breached, which are located

near the $170 level. These are considered important levels.

Breaking through them and closing above them could propel the stock to continue its upward trend,

reaching the $177 level and then the $182 level.