Micron Sees Massive AI Opportunities Ahead
The semiconductor industry is a notoriously cyclical sector and its profitability generally moves in sync with economic trends. While profits rise during booming periods, a recession can often turn those profits into losses. Investors in Micron Technologies (NASDAQ: MU) have seen the company follow this path in the past, regularly going through periods of boom and bust.
Lately though, some structural trends have emerged that appear to have changed the dynamics of this industry for good. The development of smart vehicles, the rise of 5G, and the incorporation of the Internet of Things into so many parts of the economy are combining to create sustained tailwinds for semiconductor manufacturers. Another one of these trends -- artificial intelligence (AI) -- is propelling Micron to an entirely new level.
Image source: Getty Images.
Source Fool.com
