Micron Technology is a favorite name here at Explosive Options, and not just because it’s been running hot since the election – it’s up more than 70% in four months! That is an amazing run, especially considering that other chip names (Intel, Qualcomm) have been falling hard on heavy turnover. Given the run this stock has had, I would not be surprised to see a bit of a pullback. However, earnings are coming out later this month, and that might be a catalyst for a move.
The technicals have been strong with volume pushing the stock to highs it hasn’t hit in a while. The MACD is on a buy signal, and relative strength has peaked (but it may just be settling here). Given the shakiness of the markets, it is rare to find a stock that performs so well as market gains are digested. We may see it hit the $30 level soon.
Micron (NYSE:MU) Video Chart Analysis
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About Micron
Micron Technology, Inc. provides semiconductor systems worldwide. The company operates through four segments: Compute and Networking Business Unit, Storage Business Unit, Mobile Business Unit, and Embedded Business Unit. It offers DDR3 and DDR4 DRAM products for computers, servers, networking devices, communications equipment, consumer electronics, automotive, and industrial applications; mobile low-power DRAM products for smartphones, tablets, automotive, laptop computers, and other mobile consumer device applications; DDR2 and DDR DRAM, GDDR5 and GDDR5X DRAM, SDRAM, and RLDRAM products for networking devices, servers, consumer electronics, communications equipment, computer peripherals, automotive and industrial applications, and computer memory upgrades; and hybrid memory cube semiconductor memory devices for use in networking and computing applications. The company also provides NAND Flash products, which are electrically re-writeable, non-volatile semiconductor memory devices; client solid-state drives (SSDs) for notebooks, desktops, workstations, and other consumer applications; enterprise SSDs for server and storage applications.
