Micron Says Memory Chip Supply Will Remain Tight Beyond 2027. That's Investors' Cue to Load Up on Shares Now.
The memory chip specialist stock appears incredibly cheap.
Overview
Micron (NASDAQ: MU) has been an incredible performer this year, with the stock tripling. However, it has sold off by more than 25% in recent weeks as fears grow regarding the health of its business. While it's fair to be cautious, Micron has already told investors that there's no need to fear due to the long-term outlook.
Micron informed investors during its latest earnings call that it expects "tightness" in the memory chip market to last beyond 2027, which should ease some fears. That language, combined with the sell-off, makes Micron a great stock to buy now. If you missed out on some of its initial run-up, now could be a perfect second chance.
Image source: The Motley Fool.
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Originally published at www.fool.com.