After Gaining 800% in 1 Year, Wall Street Just Upgraded Micron to "Strong Buy" -- Unanimously. Here's Why.
Micron has been on an incredible run, but could there be more upside ahead?
Overview
It's fair to say that investors were skeptical heading into Micron's (NASDAQ: MU) latest earnings report. The stock had already gained more than 700% over the previous year, and had posted several blowout earnings reports in a row. In fact, on the day of Micron's latest earnings report, the stock was down significantly during the trading day before the afternoon announcement.
However, it's fair to say that Micron knocked it out of the park. Again. The stock soared to a new all-time high, and even after a brief pullback, it now has a market capitalization of nearly $1.3 trillion. This is from a memory company that was largely considered a boring, commoditized business just a couple of years ago.
Details
Even with the incredible performance, Micron could still have plenty of upside ahead. In fact, most analysts who follow the stock think that's exactly what will happen. Here's a rundown of where Micron's business stands today, and where Wall Street sees it heading in the future.
Source
Originally published at www.fool.com.