Sandisk Just Gave Micron Technology Investors Great News
The company recently outlined promising growth targets for the next few years, suggesting that the memory shortage isn't coming to an end anytime soon.
Overview
Sandisk (NASDAQ: SNDK) and Micron Technology (NASDAQ: MU) are two memory stocks that have been exceptionally hot buys over the past year, with the former soaring by 3,400% and the latter rising by close to 700%. Investors have been loading up on these stocks due to the ongoing memory shortage in the tech sector, which has enabled these companies to capitalize on demand while raising prices along the way.
Many investors, however, have begun unloading their holdings due to concerns that the industry shortage may be coming to an end in the near future as more supply comes online. Plus, there is also the temptation to secure some profits and cash out sooner rather than later. Micron, after all, has become one of the most valuable tech companies in the world, with a market cap of $1.1 trillion as of the end of last week.
Details
Sandisk's management, however, recently gave Micron Technology investors some great news, which could alleviate fears about the tech stock and potentially send it even higher.
Source
Originally published at www.fool.com.