Why Micron Technology Surged This Week
Shares of Micron Technology (NASDAQ: MU) rose 12.1% this week through the end of trading Thursday, according to data provided by S&P Global Market Intelligence, a very good showing for the memory chip maker in a volatile tech market.
The reasons for Micron's rise didn't have to do with any company-specific announcements, as there really weren't any this week. However, a strong earnings season for many other tech companies fueled optimism over the growth of the economy and digital applications. Furthermore, a problem at a competitor's NAND flash plant helped Micron defy the downdraft in the markets on Thursday, when the tech sector was rocked by a hotter-than-expected inflation report.
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Source Fool.com
