Micron (MU) Gets Its Mojo Back
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Price: $864.01 -13.25%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 0.8%
Revenue Growth %: +268.5%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 0.8%
Revenue Growth %: +268.5%
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After years of lackluster performance, shares of DRAM maker Micron Technology (NYSE: MU) are finally seeing signs of a pulse.
Over the past month, Micron has received three Wall Street upgrades, according to data at StreetInsider.com Ratings Insider. In addition, hedge fund titan David Tepper of Appaloosa recently highlighted the stock in a CNBC interview.
Today the stock is getting another boost with research showing a huge opportunity for the DRAM maker in tablets computers.
According to new research for IHS iSuppli, DRAM shipments for tablets are expected to explode by a factor of more than nine in 2011.
DRAM shipments is projected to reach 353.3 million gigabits, up a staggering 834.7 percent 37.8 million in 2010, the report said.
"The DRAM industry is receiving a major boost from tablets, the undisputed stars of this year’s Consumer Electronics Show (CES) in Las Vegas," said Mike Howard, principal analyst for DRAM & memory at IHS. "At the show, new tablets such as the Xoom from Motorola Inc. (NYSE: MOT) and the BlackBerry Playbook from Research in Motion (Nasdaq: RIMM) joined recently released rival products made by Samsung Electronics and Dell Inc. (Nasdaq: DELL) - devices all intended to dent the overwhelming lead for Apple Inc.'s (Nasdaq: AAPL) iPad."
Shares of Micron are up 6.4 percent to $10.60 today.
Over the past month, Micron has received three Wall Street upgrades, according to data at StreetInsider.com Ratings Insider. In addition, hedge fund titan David Tepper of Appaloosa recently highlighted the stock in a CNBC interview.
Today the stock is getting another boost with research showing a huge opportunity for the DRAM maker in tablets computers.
According to new research for IHS iSuppli, DRAM shipments for tablets are expected to explode by a factor of more than nine in 2011.
DRAM shipments is projected to reach 353.3 million gigabits, up a staggering 834.7 percent 37.8 million in 2010, the report said.
"The DRAM industry is receiving a major boost from tablets, the undisputed stars of this year’s Consumer Electronics Show (CES) in Las Vegas," said Mike Howard, principal analyst for DRAM & memory at IHS. "At the show, new tablets such as the Xoom from Motorola Inc. (NYSE: MOT) and the BlackBerry Playbook from Research in Motion (Nasdaq: RIMM) joined recently released rival products made by Samsung Electronics and Dell Inc. (Nasdaq: DELL) - devices all intended to dent the overwhelming lead for Apple Inc.'s (Nasdaq: AAPL) iPad."
Shares of Micron are up 6.4 percent to $10.60 today.
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