Micron Technology Inc. (NASDAQ:MU): this stock preformed very well since it bottomed on 20 August at 42.985. On 7 October it broke out at 48.41 and confirmed on 26 January at 79.51, garnering an LTN Cash Pile Buy rating.
The giant chipmaker posted impressive F-Q-1 results showing us that the memory/storage chip maker has room to run.
Currently MU is trading at 78.74 pre-market Wednesday against a 52 wk trading range of 31.13 – 87.25. The Street’s 1yr target is 96.48 much lower than out target at 112.52.
All of our Key technical indicators are Bullish to Very Bullish in here indication a Very Bullish long term outlook.
The Key support is at 73.32 and the Key resistance is at 81.05, beyond that mark the overhead resistance is Nil.
Micron Technology, Inc. designs, manufactures, and sells memory/storage products worldwide.
The company operates through 4 segments: Compute and Networking Business Unit, Mobile Business Unit, Storage Business Unit, and Embedded Business Unit.
It offers memory and storage technologies, including DRAM, NAND, NOR, and 3D XPoint memory under the Micron and Crucial brands, as well as through private labels.
The company provides memory products for the cloud server, enterprise, client, graphics, and networking markets, as well as for smartphone and other mobile-device markets, SSDs and component-level solutions for the enterprise and cloud, client, and consumer storage markets, other discrete storage products in component and wafer forms for the removable storage markets, as well as 3D XPoint memory products, and memory and storage products for the automotive, industrial, and consumer markets.
It markets its products through its direct sales force, independent sales representatives, distributors, and retailers; and web-based customer direct sales channel, as well as through channel and distribution partners.
Micron Technology, Inc. was founded in Y 1978 and is HQ’d in Boise, Idaho.