About Micron (MU)
Micron Technology, Inc (NASDAQ: MU) is an American designer and producer of computer RAM, USB flash drives and SSD memory devices based in Boise, Idaho.
Founded in 1978, Micron was a consulting company, specializing in semiconductor design, before expanding in 1981 to produce its own DRAM chips. In 2000, the company began developing 'atomic layer deposition films' for its chipsets, driving down costs, while allowing for higher memory capacity and smaller sizes.
2005 saw Micron partner with Intel to develop flash memory, with Micron taking over the shared entity in 2012.
Since then, Micron has acquired multiple companies (both competitors and complementary businesses) with the aim of consolidating efforts to boost profitability. They have also sold entities - disposing of its Lexar brand in August 2017.
As a supplier to Apple, and many other big technology firms, Micron has a strong future in digital storage media.
Micron stock price
In 1984, Micron listed on the NASDAQ at $1.41 per share, staying at an average price of $2 until 1993. From there, it climbed to $42.88 on September 22nd, 1995.
The stock price was quite volatile over the next few years before climbing to an all-time-high of nearly $100 in July 2000. In the 20 years since Micron stock has fluctuated between $2 per share in December 2008 and recent new highs of $58 in June 2018 and $57 in January 2020.
What the bears are saying
- Micron faces fierce competition: The flash memory market is brutal, with new technologies kept under tight intellectual property controls for fear of theft or reverse engineering by competitors.
- Large tech firms are buying chip makers: Consumer and technology device manufacturers are taking technologies like flash memory designers in-house to better control design and reap higher profit margins.
- Business demand has fallen in 2020: Demand for memory devices in commercial data centers has fallen due to the COVID-19 recession.
What the bulls are saying
- Micron is well-established with robust technologies and markets: Despite a drop in demand, Micron remains a leader in the computer and device memory business, with only Western Digital close.
- COVID-19 could bolster demand for its products: COVID-19 means that millions of people need home computers and tech devices, which all require semiconductors.
- Industrial demand is likely to rebound strongly: As businesses start to return to normal, Micron could see a resurgence as commercial orders rise once again.
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This article is for informational purposes only and takes no account of particular personal or market circumstances, and should not be relied upon as investment, tax, or legal advice. For investment, tax, or legal advice, and before taking any action you should consult your own advisors. Note that assets such as equities present unique risks for investors.
This content is correct as of October 2020
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