Boston, MA 01/03/2014 (wallstreetpr) – Micron Technology, Inc. (NASDAQ:MU) manufactures and sells memory chips and processors used in mobile devices, computers, cars and a lot of other technology applications. The company registered 2013 into the list of its best performance years.
It is fair to say that the semiconductor industry was relatively bullish throughout 2013 looking at the performance of other players in the industry. However, big credit still goes to the management of Micron Technology, Inc. (NASDAQ:MU) for the far the company has come.
Micron Technology, Inc. (NASDAQ:MU) concluded 2013 as the fifth most important semiconductor manufacturer in the world. In the year before, it was at position 10 in the global scale. This big rise in ranking order is no mean fete for a company that has had to overcome a lot of challenges to earn profits in its business.
Given that the sterling performance which the company witnessed last year was partly due to the generally bullish chip market and partly due to the business acumen of its management, we can hope that the company will be able to recreate itself again this year.
Performance
Micron Technology, Inc. (NASDAQ:MU) earned record profits in 2013. This happened due to the better prices of memory devices, short supply of the chips in the market due to consolidation of other players and big demand as the market expected shortage. In this situation, the company was able to boost its production and generated good profits.
Its acquisition of the troubled Elpida Memory also helped the company to boost production and to expand its market share rapidly. Micron Technology, Inc. (NASDAQ:MU) closed the year with its stock having gained 234 percent in price.
Opportunity
The memory market still looks bullish and this situation may prevail for a longer time in 2014. However, this time around sales may not be fueled by market panic over shortage. Instead, increased undersupply of chips and growth in smartphone and tablets uptake may contribute to bigger sales for the company this year.
