Here's 1 Big Reason to Buy Micron Technology Stock Right Away

Micron Technology's (NASDAQ: MU) stock price surged after the company's fiscal 2022 first-quarter results were released on Dec. 20, showing that its revenue, earnings, and guidance exceeded Wall Street's expectations. Micron's revenue shot up 33% year over year in Q1 to $7.69 billion, while its earnings jumped to $2.16 per share from $0.78 per share in the year-ago period. One of the reasons behind Micron's impressive growth last quarter was the jump in the company's revenue from the mobile business.

Let's look closely at how Micron's mobile business performed, and see why it should continue to be a long-term catalyst for the chipmaker.

Image source: Getty Images.

Source Fool.com