Where to Put Your Money?
Today, we’ve zeroed-in on some tech stocks using our premium screen “VGM Style Score” which had performed phenomenally last year and have the potential to carry the momentum this year as well.
Our first choice is the world’s leading memory chip maker — Micron Technology, Inc. MU. The main reason behind the optimism surrounding the stock is improved prices for DRAM and NAND chips. This is primarily due to imbalances between industry demand and supply, which are leading to periodic shortage and temporary price hike. We believe Micron will continue its outperformance as long as demand for memory chips remains ahead of supply.
Based on the Zacks Consensus Estimate, Micron is anticipated to finish fiscal 2018 with EPS growth of 102.2% and sales growth of 36.9%. Micron is a Zacks Rank #1 (Strong Buy) stock and has a VGM Score of A. Last year, the stock rallied 87.5%.