Why Micron's Next Rock Bottom Won't Be So Bad

For patient buy-and-hold investors in Micron Technology (NASDAQ: MU), the worst is almost over. That's the key takeaway from the company's fiscal 2020 first-quarter earnings report. Micron operates in the semiconductor industry and is a leading producer of both dynamic random access memory (DRAM) and NAND memory products. Yet this industry is cyclical, and virtually all businesses in the space rise and fall depending on where we're at in the cycle.

And that's why Micron's Q1 was so big. CEO Sanjay Mehrotra said he's optimistic that the results of the second quarter of fiscal 2020, to be reported around March, will be the bottom of the semiconductor cycle for Micron. From there, investors should enjoy the next wave of innovations that will drive demand higher.

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Source Fool.com