Why Micron Technology Surged This Week

Shares of Micron Technology (NASDAQ: MU) rose 12.1% this week through the end of trading Thursday, according to data provided by S&P Global Market Intelligence, a very good showing for the memory chip maker in a volatile tech market.

The reasons for Micron's rise didn't have to do with any company-specific announcements, as there really weren't any this week. However, a strong earnings season for many other tech companies fueled optimism over the growth of the economy and digital applications. Furthermore, a problem at a competitor's NAND flash plant helped Micron defy the downdraft in the markets on Thursday, when the tech sector was rocked by a hotter-than-expected inflation report.

Image source: Getty Images.

Continue reading

Source Fool.com