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Micron is a computer memory maker that until recently was best known for manufacturing RAM for PCs. But the company has spent the last several years building its flash memory business, a switch that exposes Micron to a far more lucrative niche. That's because the push toward mobile devices in recent years has boosted demand for NAND flash memory, tightening supplies and spiking prices. These solid-state drives are capable of more speed and capacity for a given footprint than traditional magnetic media, and their premium pricing also produces deeper margins for Micron.
The firm's OEM connections are a big advantage because they keep sales efforts minimal. Instead, the firm just needs to keep creating flash technology that device makers want. The increasing use of flash memory in enterprise settings (such as servers) is another big trend that's helped to propel Micron's share price in 2013. As cloud storage gets used by more and more consumers, a rising tide should lift all ships in the computer storage business.
With rising analyst sentiment boosting shares this week, we're betting on this Rocket Stock.
To see all of this week's Rocket Stocks in action, check out
the Rocket Stocks portfolio at Stockpickr.
-- Written by Jonas Elmerraji in Baltimore.