A Top 5G Stock to Buy Before the Year Ends
Micron Technology (NASDAQ: MU) ended fiscal 2020 on a high with a solid set of fourth-quarter results for the three months ending on Sept. 3., but investors were far from impressed by the company's guidance.
Micron's revenue jumped 24.4% from the prior-year quarter to $6.06 billion, and gross margin improved 5.5 percentage points thanks to an improvement in the memory market's dynamics. But lower spending on information technology (IT) infrastructure and further restrictions on shipments to Huawei (which supplies 10% of the company's revenue) are going to be headwinds for Micron in the short term. As a result, the company expects its top line to remain nearly flat year-over-year this quarter at $5.2 billion.
While that's a major step down from Micron's performance last quarter, there's one major catalyst that could help the chipmaker regain its mojo as the fiscal year progresses.
Source Fool.com
