Shares of Micron Technology (NASDAQ: MU) sank 4% after the company released fiscal 2023 fourth-quarter results (for the three months ended Aug. 31) on Sept. 27, but a closer look at the chipmaker's results suggests that its latest drop is a buying opportunity.

Micron struggled on account of weak memory demand in recent quarters, which has led to a sharp decline in memory prices and sent the company's top and bottom lines plunging. The company's latest quarterly report followed a similar storyline, but its guidance makes it clear that a turnaround is almost here.

Let's look at the reasons why buying Micron stock right now is a no-brainer.

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Source Fool.com