Stock Split Watch: Is Micron Next?
Micron Technology (NASDAQ:MU) is one of this year’s biggest artificial intelligence (AI) success stories. The maker of memory and storage solutions has seen its earnings and price performance skyrocket amid high demand for its products. In the latest quarter, revenue soared a mind-boggling 379% to $54 billion, and the stock price has advanced in the triple digits this year.
In fact, the stock has climbed so much that it even surpassed $1,200 earlier this year. It’s since given back some of the gain and now trades at about $900. This fantastic performance helped the company reach a market capitalization of more than $1 trillion, putting it on par with the “Magnificent Seven” tech stocks, each valued in the trillions of dollars.
Now, with its stock price hovering just under $1,000, will Micron announce a stock split? Let’s consider the possibilities.
Source: www.fool.com — article syndicated from the publisher’s feed; all rights remain with the original publisher.