Why Micron Technology Could Be the Nvidia of the 2020s
A $1,000 investment in Nvidia (NASDAQ: NVDA) in 2012 would be worth $57,000 today. That's what can happen when you invest in a growing tech company that experiences expanding use cases for its products. Nvidia successfully applied its graphics processing units (GPUs) to new markets like the data center, as opposed to relying on demand from PC gamers, and revenue exploded.
Micron Technology (NASDAQ: MU) could see a similar growth opportunity over the next decade. It's one of the leading producers of dynamic random-access memory (DRAM) modules and non-volatile flash memory (NAND) used in solid-state drives. Vehicles, phones, data centers, and the Internet of Things (IoT) are getting more complicated technologically, and that's good news for Micron. More advanced features and data consumption means higher demand for its memory and storage solutions, and Micron is already reporting strong revenue growth in 2022 because of these trends.
Could buying shares of Micron today lead to Nvidia-like returns over the next 10 years? Let's find out.
Source Fool.com
