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Micron Technology's shares jumped after the chipmaker posted blockbuster quarterly results, touching off a broad shake-up among technology stocks on Wall Street.
Apple's stock declined in the same period after the consumer electronics company announced price increases it attributed to what it described as an "unprecedented" rise in the cost of memory chips.
Micron's Results Rattle the Tech Sector Micron's strong performance landed with enough force to shift sentiment across Wall Street's technology names.
The results signaled that demand for memory chips is running well ahead of supply — a condition that enriches producers but compresses margins for the manufacturers who buy those chips in volume.
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