MU - Could Micron Technology Become the Next Nvidia?
2023-10-04 05:15:00 ET
Micron Technology (NASDAQ: MU) is one of the leading suppliers of memory chips used in data centers, mobile devices, and personal computers. Growing demand for additional memory and storage capacity sent the stock up about 290% over the last decade, but the stock has been flat over the last few years.
At the end of September, Micron reported another quarter of falling revenue, as it continues to struggle with weak demand environment and lower selling prices.
That said, the stock is up 37% year to date, despite Micron reporting an earnings per share (EPS) loss of $5.34 for the fiscal year ending Aug. 31. Investors understand Micron is navigating the usual ups and downs of the industry, where imbalances in supply and demand for memory products can cause uneven financial performance.
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Could Micron Technology Become the Next Nvidia?