Micron Technology (MU) stock was up by over 78% over the six months. Despite the stock slightly dropped recently, the company still has solid catalysts to drive its stock to continue to rise.
Micron is an industry leader in innovative memory and storage solutions, it produces memory and data storage products, which are used for a wide array of products such as computers, smartphones and other devices. As we all know, the fields of artificial intelligence, 5G, mobile networks and smart cars have developed rapidly in recent years, which have created a great demand for the company's products. So, the company's stock has been soaring in the past year.
Micron also leads the market in DRAM Flash. The company said in its Q4 and FY 2020 earnings report that the company delivered solid fiscal fourth quarter revenue and EPS resulting as strong DRAM sales in cloud, PC and gaming consoles. And DRAM representing 72% of total revenue for the quarter of the company.
Micron currently has market value of $103 billion, and its revenue of $21 billion in 2020. Driven by 5G, cloud and automotive growth, and we expect that the company's revenue will continue to increase this year, including its stock.
Disclaimer: The opinions expressed in this article are solely those of the featured analysts. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.