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10 Best S&P Stocks of 2013

These 10 stocks crushed the competition amid a strong overall year for the broader markets

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#2: Micron (MU)

  • stocks-MU-stockYTD Return: 256%
  • Sector: Semiconductors
  • Market Cap: $23 billion

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 in a “post PC age,” Micron has shown that it knows how to adapt. After regular quarterly losses over the last few years, MU returned to profitability in Q3 and isn’t projected to operate in the red anymore thanks to leaner operations, acquisitions and modest revenue growth.

Going forward, the picture is still murky for Micron. But considering the negativity that remains out there, it’s possible for MU to move even higher if upcoming results show that the company is beating expectations with its turnaround tale. Even after this amazing run, MU stock is pretty fairly valued with a forward P/E around 12 based on 2014 earnings forecasts.

Article printed from InvestorPlace Media,

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