Top Stock to Buy #6 – Micron Technology (MU)
Micron Technology (NASDAQ:MU) is a maker of semiconductor devices, primarily DRAM, Nandi Flash memory, and other products for mobile computing products. Credit Suisse analysts have an “outperform” on the stock, emphasizing MU’s continued execution of its strategy to diversify and upgrade its product line. Their 12-month target is $12.
On Feb. 27, the stock jumped nearly 8% following the bankruptcy of a key rival. Technically MU has had high accumulation since the beginning of the year, executed a golden cross (long-term buy signal), and recently flashed a stochastic buy signal. The breakaway gap on Feb. 27 confirmed a technical target of $12.