4 Reasons I Just Bought More Micron Stock
Last Friday, Sept. 27, Micron Technology (NASDAQ: MU) saw its stock take an 11% tumble after the company reported its fiscal fourth-quarter earnings. Even though Micron beat expectations for revenue and earnings per share, the market seemed to hope for better guidance, specifically regarding gross margins.
Unfortunately for shareholders, that same day, several media outlets reported the Trump Administration was considering blocking U.S. investments in Chinese companies. That sent shares of technology companies with China exposure, such as Micron, another leg down on top of the post-earnings reaction.
Shareholders shouldn't despair too much, however. The stock is still up about 35% on the year even after the dramatic sell-off, handily ahead of the broader market.
Source Fool.com
