Gold Medal Stocks to Buy Now #1: Micron Technology (MU)
Micron Technology (MU) is up 10% for the year-to-date and has tripled over during the past 52 weeks. However, with a forward price-to-earnings multiple of 9, MU stock still is 40% cheaper than the broader market.
At the same time, MU stock looks to be a high-quality name, with a return on equity (ROE) of 20%. A big acquisition helped this maker of solid-state memory post a 42% sequential improvement in revenue for the most recent quarter, while earnings per share beat the Street by a wide margin.
Higher prices in Micron’s market led Moody’s to raise its rating on its debt, and will help the company swing back to profitability this year.