Is Micron Technology a Coronavirus-Resistant Stock?
Shares of Micron Technology (NASDAQ: MU) tumbled nearly 20% over the past month as the novel coronavirus (COVID-19) pandemic hammered the broader markets. Yet the memory chipmaker's second-quarter numbers recently beat analysts' estimates, and its guidance sparked a few flickers of hope. So can Micron withstand the market downturn and emerge a stronger company?
Micron's revenue fell 18% annually to $4.8 billion during the quarter, which beat estimates by $110 million. Its non-GAAP gross margin plunged from 50.2% to 29.1%.
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Source Fool.com
