One Factor Driving Micron Technology (MU) Stock Up Today

NEW YORK (TheStreet) -- Micron Technology  (MU)  rose Wednesday after the technology company and Inspur announced Micron's 8Gb DDR3 SDRAM components would be used in several Inspur computing products.

Inspur will start to integrate Micron's components into its 2U rack products in early 2015. The components will "deliver high-performance, power-efficient servers targeted at cloud data centers and high-performance computing applications," according to the press release.

"The industry-wide need for greater memory density due to virtualization and data intensive workloads was the catalyst for Micron's development of this product," said Robert Feurle, vice president of compute and networking marketing at Micron, in the statement. "We work closely with our partners to meet market needs and are committed to offering leading-edge solutions that support their end users' technical and business requirements."

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The stock was up 1.85% to $33 at 11:19 a.m.

Separately, TheStreet Ratings team rates MICRON TECHNOLOGY INC as a "buy" with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:

"We rate MICRON TECHNOLOGY INC (MU) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its robust revenue growth, solid stock price performance, impressive record of earnings per share growth, compelling growth in net income and notable return on equity. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results."

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