Why Micron Technology Stock Climbed 69% in 2019
Shares of Micron Technology (NASDAQ: MU) gained 69.5% last year, according to data provided by S&P Global Market Intelligence. That compares to a return of 28.9% for the S&P 500 index.
It was a bumpy ride for Micron shareholders last year. The company has been navigating through a down cycle in average selling prices for its memory and storage products, including DRAM and NAND memory used in solid state drives (SSDs). The tough environment has pressured revenue and profits in recent quarters.
However, Micron reported improving business trends toward the end of the year. Investors are anticipating a more favorable environment for selling prices in 2020, which is why the stock price rebounded for the year.
Source Fool.com
