Should You Buy Micron Stock After the Dip? Wall Street Has a Clear Answer for Investors.

Micron Technology (NASDAQ: MU) stock surged nearly 80% in early 2024 and reached an all-time high of $153.14 on solid adoption of its high-performance memory products in the data economy. Despite this success, the stock is currently down by almost 32% from those highs.Investors were disappointed with the company's fiscal 2024 third-quarter results (ended May 30), especially AI sales which fell short of lofty expectations. Furthermore, geopolitical and supply chain challenges plaguing the overall semiconductor industry also did not help overall investor sentiment for Micron.The difficult days, however, may now become a thing of the past. Micron came out with impressive results for its fiscal 2024's fourth quarter (ended Aug. 29) in late September, with revenue and earnings beating analysts' estimates. The company has been a major beneficiary of the explosive demand for memory and data storage products in various applications such as high-performance computing, autonomous driving, data analytics, and complex AI models.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool