Is Micron Technology Stock a Buy?
Micron Technology (NASDAQ: MU) stock dropped in the two following days after it announced its fourth-quarter and full-year 2021 earnings. The memory chipmaker beat estimates, but concerns about capital spending and rising supply prompted investors to unload shares. Although Micron can continue to benefit from the current chip shortage and remain a leading memory chip company longer-term, investors face questions about whether that success will translate into gains for the chip stock.
Image source: Getty Images.
For the fourth quarter of 2021, revenue climbed 36% to almost $8.3 billion. Net income surged 175% higher during that period to over $2.7 billion as the company limited operating expense growth during that time to only 5%. Full-year 2021 revenue of $28 billion rose 29% compared with 2020. This solid revenue growth allowed net income to expand by 116% during that period to $5.9 billion, as operating expense increases remained minimal throughout the year.
Source Fool.com
