Here's More Proof That Micron Technology Stock Could Fly Higher in 2022

While Micron Technology's (NASDAQ: MU) fiscal 2022 first-quarter results released on Dec. 20, 2021 indicate that the memory market is going to remain in good health, some market watchers believe that may not remain the case as 2022 progresses.

Micron crushed estimates as its revenue and earnings flew higher, while the memory market's bright prospects helped it deliver impressive guidance. Still, there are concerns that memory supply could increase at a faster pace in 2022, causing an estimated drop of 15% to 20% in the average selling price of DRAM (dynamic random-access memory) products next year.

However, an even newer event indicates that memory demand could grow at a faster pace than supply next year and support strong pricing. Let's see what it all means for Micron.

Source Fool.com