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Micron Technology plans to spend billions to build plants, but that’s not why the stock was downgraded. There are concerns about pricing and demand, as well.
Micron (ticker: MU), the only U.S.-based memory chip maker, said Wednesday it will be spending more than $150 billion to build plants and for research and development over the next 10 years. The expansion comes amid a global semiconductor shortage that has up driven prices for goods, including cars, electronics and home appliances.