U.S. markets closed
  • S&P Futures

    4,580.75
    +14.50 (+0.32%)
     
  • Dow Futures

    34,499.00
    +42.00 (+0.12%)
     
  • Nasdaq Futures

    16,210.00
    +59.50 (+0.37%)
     
  • Russell 2000 Futures

    2,211.50
    +14.20 (+0.65%)
     
  • Crude Oil

    66.65
    +0.47 (+0.71%)
     
  • Gold

    1,778.90
    +2.40 (+0.14%)
     
  • Silver

    22.91
    +0.09 (+0.39%)
     
  • EUR/USD

    1.1338
    -0.0001 (-0.01%)
     
  • 10-Yr Bond

    1.4430
    -0.0870 (-5.69%)
     
  • Vix

    27.19
    +4.23 (+18.42%)
     
  • GBP/USD

    1.3303
    +0.0001 (+0.01%)
     
  • USD/JPY

    113.3590
    +0.1790 (+0.16%)
     
  • BTC-USD

    57,517.40
    -319.39 (-0.55%)
     
  • CMC Crypto 200

    1,474.13
    +31.35 (+2.17%)
     
  • FTSE 100

    7,059.45
    -50.50 (-0.71%)
     
  • Nikkei 225

    27,931.21
    +109.45 (+0.39%)
     

Micron Shares Gain as Analysts See Higher Prices From Earthquake

  • Oops!
    Something went wrong.
    Please try again later.
·1 min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.

(Bloomberg) -- Micron Technology Inc. shares gained early Monday as the semiconductor maker could wind up benefiting from higher prices for DRAM memory products after an earthquake in Taiwan affected production.

Most Read from Bloomberg

A magnitude 6.2 earthquake struck 21 kilometers (13 miles) South Southeast of Yilan, Taiwan, on Sunday, according to the USGS. No deaths were reported, but buildings swayed, transportation was disrupted, and a woman was injured by falling rocks, the Associated Press reported.

Micron said in a statement that the earthquake had an impact on production at its facilities in the northern Taiwanese city of Taoyuan. The company is still evaluating the impact and is “determining the appropriate steps to return to full production.”

“Any meaningful production hit would most certainly lead to a much more tight supply environment and could pull in a DRAM pricing inflection sooner than current consensus expectations” of the first half of next year, C.J. Muse, an analyst at Evercore ISI, wrote in a note to investors.

The stock gained about 4% as the market opened in New York.

Most Read from Bloomberg Businessweek

©2021 Bloomberg L.P.