Best Tech Stocks to Buy: Micron (MU)
Micron Technology, Inc. (NASDAQ:MU) has been in bull mode for a couple of years now, and it’s hard to find signs that the momentum is in any real danger.
Micron’s latest earnings report showed revenues soaring by 92% to $5.57 billion, and more importantly, net income that came to $1.6 billion. That’s a big flip from a $215 million loss during the year-ago period!
You can thank the strong strategies coming out of Micron’s C-suite. The most important move has been diversifying away from the PC business; MU now has thriving segments including mobile, networking and embedded systems. That makes Micron a great way to play megatrends like the Internet of Things and automotive technologies, because no matter who wins on the product side, Micron’s likely going to play a part in their innards.
What I like about Micron at the moment is its MU stock is also trading at a dirt-cheap valuation. The forward price-to-earnings multiple is a mere 5 on profits that are expected to jump 28%!