Where Will Micron Technology Stock Be in 1 Year?

Micron Technology (NASDAQ: MU), one of the world's top producers of memory chips, is a cyclical stock which follows its market's boom-and-bust cycles. Its last bust occurred in 2023 as the PC market's post-pandemic sales flatlined, the 5G upgrade cycle cooled down, and more companies prioritized their purchases of artificial intelligence (AI)-oriented graphics processing units (GPUs) over memory chips.But over the past two years, a new growth cycle kicked off as the PC market stabilized, smartphone sales rose again, and more companies upgraded their solid-state drives (SSDs) and high-bandwidth memory (HBM) chips to support the latest generative AI applications. That's why Micron's stock rallied more than 80% over the past 12 months, while the S&P 500 rose less than 20%.But will it continue to outperform the market over the next year?Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool