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While the report suggested that the strong demand that has contributed to a semiconductor chip shortage globally has begun to slow, we believe MU’s industry-leading 1α DRAM and 176-layer NAND should continue to see long-term demand across data centers and edge devices. Also, MU’s record market and product revenues and significant sequential earnings improvement in the last reported quarter have raised investors’ hopes for the stock.
Closing yesterday’s session at $70.92, MU is trading 26.9% below its 52-week high of $96.96.
