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Sydnee Gatewood
Sydnee Gatewood
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Jerome Dodson Comments on Micron Technology

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October 21, 2019 | About:

Micron Technology (NASDAQ:MU) added 77 basis points to the Fund’s return, as its stock climbed from $38.59 to $42.85 for a total return of 11.0%. The company makes dynamic random-access memory (DRAM) chips and other types of memory semiconductors used in PCs, smartphones and data servers. The industry continues to experience pricing pressure due to excess supply, but Micron has outperformed as a result of improved guidance and the company’s efforts to reduce industry overcapacity. Management believes 2020 will be an inflection point, when high-teens growth in industry demand will finally outpace mid-teens growth in industry supply. We still like Micron and expect near-term enterprise and cloud demand, as well as long-term demand from datacenters and the Internet of Things (IoT) to sustain Micron’s sales for years to come.

From Jerome Dodson (Trades, Portfolio)'s third-quarter 2019 Endeavor Fund shareholder letter.

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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