Why Micron Technology Remains a Top Stock Despite Doubling in 2017
Shares of Micron Technology (NASDAQ: MU) have been on a run this year, rising more than 100% thanks to a surge in memory prices and strong demand from fast-growing areas such as cloud computing and solid-state drives. In fact, Micron stock recently shot up to 16-year highs after industry peer Samsung's (NASDAQOTH: SSNLF) latest results indicated that DRAM (dynamic random access memory) and NAND memory supply will remain tight next year, pointing toward a robust pricing environment.
This sets the stage for Micron to sustain its hot streak going forward. However, this is just one of the many reasons to remain bullish about Micron. The company's strategy of supplying its chips into fast-growing end markets should boost its sales volumes in the long run, thereby reducing its reliance on cyclical memory industry pricing. Micron remains a top stock. Let's look at why.
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Source: Fool.com
Micron Technology Inc. Stock
The stock is one of the favorites of our community with 93 Buy predictions and 4 Sell predictions.
As a result the target price of 126 € shows a positive potential of 26.46% compared to the current price of 99.64 € for Micron Technology Inc..
