U.S. Markets closed

[$$] How Micron Can Solve Low Valuation

The most remarkable thing about the stock of Micron Technology, the computer memory-chip maker, is that its valuation has remained unchanged even as its stock price has more than doubled over the past 12 months on better financial results. A $10 billion stock buyback plan announced by Micron (MU) last Monday drove up shares by 15% for the week, to a recent $61.35. As Micron makes more parts that are distinctive—less of a commodity—it can escape persistent worries about supply and achieve a higher stock multiple.