Micron Technology reaches a strategic entry point and has a considerable potential.
The company has a low valuation, with a P/E ratio of 8.79x in 2015, and a strong profitability, with a net margin of 21.5%. Analysts who are covering the stock keep upgrading their EPS estimates, and have an average target price which representing 47% appreciation potential.
Technically, the security is in a consolidation area limited by the significant 27/28 support area, on both daily and weekly data. Above this lower limit, investors could aim a significant technical rebound.
Ideally, investors can take a long position on the stock in order to target USD 32.3 pivot point, and a stop loss will protect the position under USD 27.03.
Micron Technology, Inc. specializes in the design, manufacturing and marketing of semiconductors. The group's products include memory products (dynamic memories, flash memories, etc.) and semiconductor systems. Net sales break down by market as follows:
- IT infrastructure (36.7%): computers, network systems, graphics systems and cloud servers;
- phones and mobile devices (23.4%): smartphones, tablets and mobile devices;
- storage media (16.4%): mainly fixed and removable data storage components;
- other (23.5%): primarily automotive, connected home and consumer electronics and industries markets.
As of 31/08/2023, the group has 11 manufacturing sites worldwide.
Net sales are distributed geographically as follows: the United States (50.2%), Taiwan (17.4%), China (14%), Japan (6.4%), Hong Kong (2.1%), Asia/Pacific (4.8%), Europe (4.4%) and other (0.7%).
MICRON TECHNOLOGY, INC. 
