Semiconductor manufacturer Micron Technologies (MU) shares the AMD story, left for dead in late 2012 as another unfortunate victim of a post-PC age.
While Micron remains under pressure, it managed to cut costs and project future stability based on efficiencies alone. While MU will still be unprofitable this full year, Wall Street is expecting the stock’s August quarterly report to boast the first profit in two full years.
Investors think there’s something to be said for being less bad and for finding a way to dig out from a loss, even if there isn’t big growth ahead. And if a cyclical recovery boosts chip demand, all the better for Micron. As a result, investors have flocked to this tech issue in 2013.