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Why Micron Stock Dropped on Monday

Micron (Nasdaq: MU) stock sank 4. 2% through 10: 55 a. m. Three months ago, worries about the durability of artificial intelligence combined with the threat of new competition in memory chips from China to shave 36% off Micron's stock price . An IPO by Chinese DRAM company ChangXin Memory Technologies, or CXMT, sparked much of the selling.

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