How Micron Technology, Inc. Stock Gained 23% in September

Shares of Micron Technology (NASDAQ: MU) rose 23% in September 2017, according to data from S&P Global Market Intelligence. The memory chip maker had already been rising 12% in the first three weeks of the month on strong chip prices and healthy industry rumblings. A stunning fourth-quarter report locked in those gains near the end of September, and share prices surged another 8% higher as investors digested that report.

Micron absolutely crushed Wall Street's estimates in the fourth quarter. Revenues nearly doubled year over year to $6.14 billion, while the bottom line swung from a small loss to adjusted earnings of $2.02 per share. Analysts would have settled for earnings of $1.84 per share on sales near $5.96 billion.

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Source: Fool.com