Micron Technology's $100 Billion Splurge Could Supercharge This Stock
Micron Technology (NASDAQ: MU) faces tough headwinds right now thanks to the downturn in the memory industry, but that hasn't stopped the chipmaker from thinking big.
The memory specialist revealed on Oct. 4 that it will be spending $100 billion over the next couple of decades to build a mega fabrication plant in upstate New York. Once complete, this would be the largest semiconductor fab in the U.S., and it would help Micron meet the booming demand for memory chips in the long run. Micron expects to spend $20 billion of this planned investment by the end of this decade.
If you're wondering how you can take advantage of Micron's big splurge, look no further than Lam Research (NASDAQ: LRCX). The semiconductor equipment supplier could win big from Micron's ambitious investment plan in the long run. Let's see how.
Source Fool.com
