ACN - AI Isn't Saving These 2 Tech Stocks Thursday
2023-09-28 10:59:30 ET
Lately, artificial intelligence (AI) has been all the rage on Wall Street. Proponents of the new technology believe that it will change the world, taking menial tasks off the to-do lists of millions of workers and freeing them up to do more productive work.
Yet even the promise of AI doesn't necessarily guarantee success for every company working with the new technology. On Thursday morning, shares of Micron Technology (NASDAQ: MU) and Accenture (NYSE: ACN) were both lower, even though both companies have exposure to the AI trend. Here's why Micron and Accenture are running into trouble and what it means for those who believe that artificial intelligence is what will inevitably send the entire stock market higher.
Shares of Micron Technology fell 4% early Thursday. The memory chip company continued to lose money and report much weaker sales in its fiscal fourth-quarter results for the period ended Aug. 31.
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AI Isn't Saving These 2 Tech Stocks Thursday