Micron Technology Stock: Is It a No-Brainer Buy at Less Than $900?
Has the bubble burst for Micron Technology (NASDAQ:MU)? That’s what many investors may be asking right now, as the tech company, which has been experiencing significant demand for its memory and storage products over the past year, has suddenly fallen out of favor with investors. It’s been falling sharply in recent days, and last week, it fell below $900.
It’s now trading at levels it hasn’t been at since August, and the concern is that this may be the beginning of an even greater decline ahead, particularly as the market has been growing concerned about an artificial intelligence (AI) bubble.
But with Micron trading at a low valuation with respect to profits, and demand remaining robust, is the market overreacting, and could Micron actually be a no-brainer buy while it trades below $900?
Source: www.fool.com — article syndicated from the publisher’s feed; all rights remain with the original publisher.