Nowadays, the business world moves at lightning speed.

Fortunes can be made from technology that wasn't even dreamed of a generation ago. Investors who can spot the companies that are the leaders in their respective fields can guarantee a profit stream that will continue for many years.

Micron Technology (MU) - Get Report is one of the top makers of advanced semiconductor systems. The Boise, Idaho-based company's large portfolio of high-performance memory technology, including DRAM, NAND and NOR Flash, is the basis for multi-chip packages, solid state drives and other systems.

The company may not be a household name, but its components can be found in many of the electronic devices that Americans use every day.

Micron Technology's strengths can be seen in multiple areas such as its solid financial position with reasonable debt levels by most measures, expanding profit margins and an increase in the stock price during the past year. Micron Technology definitely has momentum on its side.

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The company is in competition with other chip makers, including Samsung Electronics. But it has been forging strong relationships with the big tech players.

For example, the decision by Apple to issue its recent iPhone models with increased DRAM capacity provided an income boost for Micron Technology.

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Micron Technology's successful collaboration with Intel in the development of 3D XPoint memory is another big win for the company. Micron Technology's 3D XPoint is a faster alternative to NAND memory.

Semiconductor market researchers foresee increasing utilization of XPoint in devices that offer expanded memory storage.

Shares of Micron Technology dipped a few months ago due to a disappointing fiscal third-quarter earnings report, but developments since then have indicated a brighter future for the company.

Quarterly revenue was $2.90 billion, down slightly from the fiscal second quarter.

"We have made good progress in deploying our advanced DRAM and NAND technologies, even as we continue to face challenging market conditions," said Micron Chief Executive Mark Durcan.

"To address the current market environment and strengthen our competitive position, we are implementing a number of initiatives to reduce costs, drive greater efficiencies and increase focus on our strategic priorities," he said.

Micron Technology executives said at a recent tech conference in New York that they expect fiscal fourth-quarter revenue to be at the higher end of the projected range between $2.9 billion and $3.2 billion.

Several analysts increased their price estimate on the stock after finding that those targets are achievable.

For example, UBS said, "We believe Micron can successfully execute on its DRAM and NAND cost plans as industry conditions are improved."

Micron Technology is scheduled to report fiscal fourth-quarter earnings on Oct. 4. If it meets estimates, the stock's existing momentum will accelerate rapidly.

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This article is commentary by an independent contributor. At the time of publication, the author held no positions in the stocks mentioned.