New Highs For Micron Technology Inc. (NASDAQ:MU)

Posted by Kristi Scott November 20, 2013 0 Comment 2074 views

Breaches 52 Week High Valuation

The S&P 500 index tracked semiconductor and memory chip maker Micron Technology, Inc. (NASDAQ:MU) breached its prior 52 week high price points yesterday before subsiding to $19.06 towards end of trading. The memory chip maker’s stock has appreciated by a super impressive 248% in the past 12 months.

Analysts are of the opinion that the $20.29 billion market capped Micron Technology, Inc. (NASDAQ:MU) is well placed to continue its spectacular growth and is expected to soon catch up with bigger chip making giants like Intel. The firm has made a big splash in the memory chip market through the release of its high performance “NAND Flash, DRAM and NOR Flash memory” chips. These chips are finding new customers in the form of original manufacturers of smart phones and tablets.

Latest Product Launch

Micron Technology, Inc. (NASDAQ:MU) has followed up its popular new chips release with launch of a new computing architecture called “Automata Processor” earlier this week. This architecture is being touted as a “fundamentally new computing architecture capable of performing high-speed, comprehensive search and analysis of complex, unstructured data streams.”

 Commenting about the launch of a new processor, Brian Shirley who heads Micron Technology, Inc. (NASDAQ:MU) DRAM Business Group has been quoted as saying, “Micron has an intense focus on the development of innovative and advanced silicon solutions that help our customers solve their most challenging computing problems. This announcement is a huge step forward for Micron and has the potential to unleash unprecedented levels of computing power.”

Growing through Acquisitions

The impressive product launches by Micron has been possible thanks to the strategic acquisition the company has made in the past few quarters. The latest acquisition is Elpida which has enabled the firm to increase demand for its products from the smart phone and tablet equipment manufacturers.

About Kristi Scott

Kristi Scott joined GDP Insider in 2005 as a Wall Street reporter for the Business and Market section. Kristi covers the stock market, financial markets and personal finance. Her awards have come from the National Federation of Professional Writers, the Ohio Newspaper Association, the Cleveland Press Club, the Society of Professional Journalists and Suburban Newspapers of America. Kristi was named SNA's national Journalist of the Year

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