If I Had $1,000 to Invest, Here's the Tech Stock I'd Invest in Before Micron
Micron may have greater short-term upside, but I prefer the other stock's long-term outlook.
Overview
Over the past 12 months, Micron Technology (NASDAQ: MU) has been one of the hottest stocks in the stock market. It's up around 680% in that span, far outperforming every major U.S. index and all the "Magnificent Seven" stocks as of July 13. It's currently valued at around $1.05 trillion (the 15th most valuable public company in the world), but at its peak, its valuation reached $1.37 trillion.
Despite Micron's current momentum (up 193% this year), there's another popular tech stock that I'd invest in before Micron, even though Micron's returns are more than 28 times higher over the past year: Nvidia (NASDAQ: NVDA). It's been a "down" year for Nvidia so far -- it's only up 8% year to date -- but I like its long-term appeal more than Micron's right now.
Image source: The Motley Fool.
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Originally published at www.fool.com.