Is Micron Technology Stock a Buy?
Amid a semiconductor chip shortage, Micron Technology (NASDAQ: MU) stock has experienced one of its best runs in many years. Its stock price has almost returned to its all-time high of $97.50 per share, a point it has not achieved since the height of the dot-com boom in 2000. Given its history, investors should question whether Micron is in the midst of a long-term boom, or if the run is merely a reaction to the chip shortage.
Micron is one of a select group of stocks that have been helped by the pandemic. Chip foundries were temporarily shuttered in 2020 even as the increased need for remote work led to a demand surge in chips. To meet this market need, the company has taken its production to full capacity amid an environment of rising memory prices.
Micron remains one of the major players in the NAND, or flash, memory market. According to TrendForce, Micron is the third-largest player in the NAND market, with a market share of about 14%.
Source Fool.com
