Why Autonomous Cars Could Be a Big Deal for Micron Technology

Micron Technology (NASDAQ: MU) has enjoyed great success over the past year. Weak memory-industry supply has boosted pricing, with original equipment manufacturers (OEMs) of consumer electronics such as smartphones and PCs forced to lock in the available supply at higher prices.

But Micron can't expect to ride the wave of higher memory prices forever given the cyclical nature of the industry. The chipmaker has been through difficult times when memory prices were low, so it needs to find alternate avenues to push sales of its dynamic random access memory (DRAM) and NAND flash memory products.

The fledgling autonomous vehicle market could present one such potentially fertile ground for Micron, and the chipmaker seems to have realized this. Let's take a look at how Micron plans to tap the opportunity in self-driving cars.

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Source: Fool.com