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Sydnee Gatewood
Sydnee Gatewood
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Jerome Dodson Comments on Micron Technology

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July 28, 2020 | About:

The same thing happened with Micron Technology (NASDAQ:MU), which added 247 basis points to the value of each share, as its stock price rose from $42.06 to $51.52 for a total return of 22.5%. In the March quarter, Micron’s stock fell 21.8% from $53.78 to $42.06, so the stock basically did a round-trip, much like Applied Materials. The company had fairly good results in the first quarter, but the stock dropped because of concerns about consumer demand and possible disruption of the supply chain.

In the last quarterly report, we wrote, “The disruption will be temporary and Micron should survive the global pandemic because of its strong balance sheet and brisk demand for the quality memory chips that it supplies.”

This is exactly what happened, and the share price is almost back to where it began the year, at $53.78.

From Jerome Dodson (Trades, Portfolio)'s Parnassus Endeavor Fund (Trades, Portfolio) second-quarter 2020 commentary.

About the author:

Sydnee Gatewood
I am the editorial director at GuruFocus. I have a BA in journalism and a MA in mass communications from Texas Tech University. I have lived in Texas most of my life, but also have roots in New Mexico and Colorado. Follow me on Twitter! @gurusydneerg

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