Micron Technology Stock: Is It Heading for a $2 Trillion Valuation?
Although the stock is up big, its valuation still looks modest.
Overview
As demand for memory and storage products has surged and supply has been limited, Micron Technology (NASDAQ: MU) has been benefiting from the ongoing shortage in a big way. Its results have looked fantastic, as it has been able to raise prices and generate impressive margins amid continuously strong demand.
The stock has soared 800% over the past 12 months and has become one of the most valuable companies in the world, with a market cap of around $1.3 trillion, heading into trading this week. Is it only a matter of time before it reaches a $2 trillion market cap?
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Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.