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Micron Technology, Inc. (NASDAQ:MU) Shares Could Surprise

Micron Technology, Inc. (NASDAQ:MU) is one of the most visible names in the semiconductor space, which has been widely viewed as a highly overvalued space in the technology sector more generally. After reaching its highs well above $60 per share, the stock has pulled back as much as 30% over the past five months, leading some to wonder whether or not the cycle highs have been put in for this name.

The semiconductor space is a notoriously cyclical space, and it often leads other sectors given the importance of supply chain factors as well as global logistical relationships. That said, the demand side is rarely understood in advance of major turns. That’s why one shouldn’t be surprised if the company manages to continue strong momentum on both the top and bottom line in its upcoming earnings report.

Micron Technology, Inc. (NASDAQ:MU) promulgates itself as a company that provides semiconductor systems worldwide. The company operates through four segments: Compute and Networking Business Unit, Storage Business Unit, Mobile Business Unit, and Embedded Business Unit.

It offers DDR3 and DDR4 DRAM products for computers, servers, networking devices, communications equipment, consumer electronics, automotive, and industrial applications; lower power DRAM products for smartphones, tablets, automotive, laptop computers, and other mobile consumer device applications; DDR2 DRAM and DDR DRAM, GDDR5 and GDDR5X DRAM, SDRAM, and RLDRAM products for networking devices, servers, consumer electronics, communications equipment, computer peripherals, and automotive and industrial applications, as well as for computer memory upgrades; and hybrid memory cube semiconductor memory devices.

The company also provides NAND products, which are electrically re-writeable, non-volatile semiconductor memory, and storage devices; client solid-state drives (SSDs) for notebooks, desktops, workstations, and other consumer applications; enterprise SSDs for server and storage applications; cloud SSDs; and multi-chip package and managed NAND products. In addition, it manufactures products that are sold under other brand names; and resells flash memory products that are purchased from other NAND Flash suppliers.

Further, the company provides 3D XPoint non-volatile memory products; and NOR Flash, which are electrically re-writeable and semiconductor memory devices for automotive, industrial, connected home, and consumer applications. It markets its products to original equipment manufacturers and retailers through its internal sales force, independent sales representatives, and distributors; and through a Web-based customer direct sales channel, and channel and distribution partners.

The company was founded in 1978 and is headquartered in Boise, Idaho.

At this time, carrying a capital value in the market of $50.54B, MU has a significant war chest ($6802M) of cash on the books, which must be weighed relative to about $5754M in total current liabilities. MU is pulling in trailing 12-month revenues of $30391M.

In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 37.5%.

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