REFILE-BUZZ-Dell and HP fall as Micron forecast stirs cost fears

Reuters12-19 03:12
REFILE-BUZZ-<a href="https://laohu8.com/S/DELL">Dell</a> and HP fall as Micron forecast stirs cost fears

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** Shares of Dell Technologies DELL.N down 3.2% and HP Inc HPQ.N losing 3.5% on Thur, missing out on tech rally sparked by an outsized profit forecast from Micron Technology MU.O

** While strong AI-related demand for MU's memory chips lifted many tech stocks and helped push the S&P 500 tech sector .SPLRCT up 1.5%, the forecast deepened existing worries about rising costs and a scarcity of components for computer and server makers

** HP CEO Enrique Lores warned last month that higher memory chip prices were forcing the co to reduce memory configurations in the devices it sells and also increase product prices

** In contrast to HP and Dell, both Seagate Technology STX.O and Western Digital WDC.O jumped >6% following MU's results, reflecting strong AI-related demand for their storage devices

(Reporting by Noel Randewich)

((noel.randewich@thomsonreuters.com))

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