Micron Technology Has Fantastic News for Memory Stock Investors
CEO Sanjay Mehrotra's comments indicate that the memory industry is poised to get bigger over the long run.
Overview
The memory trade on Wall Street has been cracking lately, as investors have been booking profits and rotating out of memory stocks following a phenomenal surge in this sector over the past couple of years.
The Roundhill Memory ETF, an exchange-traded fund that invests in major memory companies across the globe, has lost 27% of its value over the past couple of months. However, the recent downturn in memory stocks may not last long, as artificial intelligence (AI) has become a durable growth driver for the industry.
Details
This is what Micron Technology (NASDAQ: MU) CEO Sanjay Mehrotra recently told CNBC in an interview. Let's take a closer look at Mehrotra's comments and check why they point toward better times for the memory industry in the long run.
Source
Originally published at www.fool.com.