Micron Stock Breaks Above 50-Day Moving Average

Micron Technology, Inc. shares have fallen more than 15% since Nov. 24, when chipmakers began their sector-wide decline. Morgan Stanley analysts downgraded Samsung Electronics Co., Ltd. (SSNLF) and Taiwan Semiconductor Manufacturing Company Limited, saying that NAND prices would fall during the fourth quarter and that DRAM prices were uncertain beyond the first quarter of next year. However, Morgan Stanley recommended Micron more than other chip stocks.

Despite the recent decline, DRAM prices remain sharply higher over the full year, and many investors see a recovery on the horizon. Micron’s stock has nearly doubled since the beginning of the year even after the recent drop of roughly 15% in its share price. DRAM and NAND prices are not necessarily expected to double again next year, but investors are hoping that strong PC sales and pricing trends help support the strong prices seen this year. (See also: Why the Micron Sell-Off Is Overdone: Morgan Stanley.)

Micron shares have fallen more than 15% since Nov. 24, but the recent recovery appears to be gaining steam. …read more

Read more here: Micron Stock Breaks Above 50-Day Moving Average

Category: MU, SSNLF, TSM

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