Buy This Top Coronavirus Stock Before It Jumps Higher
Micron Technology (NASDAQ: MU) was struggling a year ago thanks to unfavorable demand-supply conditions in the memory market, but the outbreak of COVID-19 and the economic disruptions it caused ended up being a boost the chipmaker's business as the year progressed.
Supply chains were disrupted by the pandemic, and the demand for memory chips in data centers and computers increased at the same time. This created an ideal situation for Micron Technology to thrive in.
As a result, the chipmaker's results improved consistently throughout the year and it ended fiscal 2020 on a solid note. The good news for Micron's investors is that it could raise its game in fiscal 2021 as well, as evident from its recent results that led to a spate of analyst upgrades.
Source Fool.com
