Is a Deal With Ford and a $100 Billion Backlog Enough to Get Micron Stock Back Over $1,200?
Micron's announcement with Ford sheds more light on its long-term deals that could generate $100 billion in revenue over the next several years.
Overview
After hitting a 52-week high of $1,255 on June 25, the Micron Technology (NASDAQ: MU) stock price has since retreated below $1,000. There's a likely mix of factors that have led to that decline and that are keeping the stock price from rebounding, ranging from potential profit-taking to a chip stock sell-off to increased competition from SK Hynix's listing on the Nasdaq.
In the background, however, there was a July 6 announcement from Micron that seemed to get buried.
Image source: The Motley Fool.
Details
Source
Originally published at www.fool.com.
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