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The S&P’s 10 Best Stocks of 2013 Through Q3

A look at 2013's best runs, turnarounds and lucky breaks

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#3: Micron Technology

MicronTechnologyLogo Tech StocksIndustry: Semiconductors
Year-to-Date Returns: 175%

Semiconductor manufacturer Micron Technology (MU) makes a host of high-tech products found in computers, cars and mobile devices.

While investors typically aren’t too happy about semiconductor stocks broadly, since laptops and PCs continue to decline in sales and related suppliers have taken a hit, Micron stock has been a darling of Wall Street in 2013. But don’t be fooled — the stock’s success has been more about a turnaround for “poor” to “fair” than a sign that Micron has been spared the same pressures as other chipmakers.

The Boise, Idaho, company has had trouble even breaking even for about two years. However, its next quarterly report could finally signal a return to profitability — a big development for the embattled tech stock, and one that investors have been anticipating given the run-up in shares.

Going forward, the picture still is murky for Micron. But considering the negativity that remains out there, it’s possible for MU to move even higher if upcoming results show the company is beating expectations with its turnaround tale.

Article printed from InvestorPlace Media,

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