Prediction: Micron Stock Will Return to All-Time Highs Soon
The maker of memory chips has a strong catalyst.
Overview
Micron Technology (NASDAQ: MU) has had a great year, with its shares rising about 217% so far. However, following a sell-off in early July, they are still down 25% from an all-time high set in late June.
A midyear sell-off like this shouldn't come as a surprise to investors since many of them wanted to lock in some profits. That's shortsighted thinking, though; the tailwinds that pushed Micron higher in the first part of the year are still there, and I wouldn't be surprised if the stock sets a new all-time high within the next few months. But how high can it rise? Let's take a look.
Image source: The Motley Fool.
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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.