Micron Technology (MU) is the archetypal semiconductor company to illustration and validate the fastest, astir precocious mobile representation successful the industry. And arsenic its turbocharged representation drives 5G and artificial quality (AI) innovations for smartphones, MU banal earns a spot connected the IBD Breakout Stocks Index.
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Micron reports numbers for the November-ended archetypal 4th of fiscal 2022 connected Dec. 20. Micron's fiscal twelvemonth ends successful August.
While successful antithetic industry groups, MU stock joins chap semiconductor manufacture stocks Applied Materials (AMAT), Teradyne (TER) and Rambus (RMBS) connected the index.
Among leaders wrong Micron's information retention industry, MU banal ties Silicon Motion Technology (SIMO) and Smart Globabl (SGH) with a 96 Composite Rating. Pure Storage (PSTG) leads the radical with the highest-possible 99 Composite Rating. And with a 95 rating, Seagate Technology (STX) besides scores a beardown standing successful Stock Checkup.
See Who Joins MU Stock On The IBD Breakout Stocks Index
Micron Powers 5G, AI Advances — And Triple-Digit Earnings Growth
Based successful Boise, Idaho, Micron makes representation and retention solutions that alteration advances successful AI and 5G applications. The company's portfolio includes high-performance DRAM, NAND and NOR representation and retention products.
On Nov. 19, Micron and MediaTek announced that they are the archetypal to validate Micron's low-power treble information complaint 5X (LPDDR5X) DRAM. Standing for Dynamic Random Access Memory, Micron's DRAM is utilized for MediaTek's caller Dimensity 9000 5G flagship chipset for smartphones. Built connected Micron's starring 1α node, it marks the world's fastest mobile memory.
Micron's innovations successful the AI and 5G spaces person driven coagulated signs of organization support, including an A Accumulation/Distribution Rating and a 1.4 up/down measurement ratio. Plus, 149 apical mutual funds with an A+ standing from IBD person reported a presumption successful MU stock.
Three consecutive quarters of triple-digit net maturation has besides attracted starring wealth managers. Analysts expect Micron to study 169% EPS maturation connected Dec. 20 and a 45% summation for the afloat fiscal twelvemonth ending successful August 2022.
Sales maturation has ranged from 30% to 37% implicit the past 3 quarters.
Can MU Stock Buck Stock Market Pressure And Keep Climbing?
After hitting a caller precocious successful April, Micron began pulling backmost to signifier its existent chart pattern. As it slid lower, MU banal continually deed absorption astatine its downward-sloping 10-week moving average. Along the way, that benchmark 10-week enactment undercut the 40-week moving average.
While the 10-week enactment has begun to ascent higher, it remains beneath the 40-week moving average. Although Micron present faces downward unit successful the stock marketplace indexes, look for the shorter-term 10-week enactment to determination backmost supra the longer-term 40-week enactment to corroborate rebounding method strength.
With the marketplace hitting turbulence and Micron owed to study connected Dec. 20, the people buy point is 97.06. See if the marketplace indexes tin shingle disconnected caller selling unit and acceptable the signifier for MU banal to interruption retired connected a beardown net report.
Early Wednesday, Micron is up implicit 5% successful measurement trending implicit 300% higher than normal.
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Follow Matthew Galgani connected Twitter astatine @IBD_MGalgani.
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