Where Will Micron Technology Be in 1 Year?

Micron Technology (NASDAQ: MU) stock continues to ride high, so much so that Micron recently came within $1 per share of its all-time high set back in the 2000 dot-com bubble. This optimism has stemmed from a chip shortage so severe that it has idled production in numerous industries. However, chip shortages rarely last, and a link to cryptocurrencies could alter the value proposition of Micron stock.

Admittedly, Micron remains firmly positioned in a memory market as more products require such chips. Many see the company's situation as a big reason why you should be buying Micron.

The shortage could particularly benefit Micron in the DRAM memory market, where South Korean chipmakers Samsung and SK Hynix are its only competitors. DRAM made up about 68% of Micron's revenue in 2020. Additionally, the company claimed about 23% of the global DRAM market, according to TrendForce.

Source Fool.com