One More Reason to Buy Micron Technology Stock
Micron Technology (NASDAQ:MU) investors are likely worried after the company announced that its business will take a hit on account of lower information technology (IT) infrastructure spending and restricted shipments to Huawei.
Management’s guidance for the current quarter was muted, sowing seeds of uncertainty about the direction the memory market might take in the coming months. But the memory specialist is sitting on lucrative tailwinds such as the growth of 5G wireless networks that could help the company regain its mojo. And now, Micron investors can count on another potential boost in the form of a rebounding PC (personal computer) market.
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The PC market is showing signs of life
PC sales have increased lately as the coronavirus pandemic has forced people to remain indoors, triggering a shift toward remote working and online education. According to Gartner, PC shipments in the third quarter