How Micron Technology, Inc. (MU) Soared to Five-Year Highs

The big prospect for Micron to push higher should come when it closes on its long-awaited acquisition of bankrupt DRAM-maker Elpida’s assets. The move should help Micron stand up to giants in the industry like Samsung and Hynix, especially on the mobile side of DRAM, where Elpida has some lucrative relationships to supply memory for popular products like the iPhone and iPad. Micron has waited more than a year for the buyout to be complete, but with signs that the companies are overcoming legal hurdles, it’s looking more likely that it will finally happen.

In its quarterly report, watch for Micron Technology, Inc. (NASDAQ:MU) to give the latest update on its Elpida acquisition. Even with good times in the memory business, investors have seen the cycles in the industry move up and down too many times to put much long-term stock in the recent upswing without more fundamental signs of strength for the company.

The article How Micron Technology Soared to 5-Year Highs originally appeared on Fool.com and is written by Dan Caplinger.

Fool contributor Dan Caplinger has no position in any stocks mentioned. You can follow him on Twitter @DanCaplinger. The Motley Fool has no position in any of the stocks mentioned.

Copyright © 1995 – 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.