Shares of Micron Technology (NASDAQ:MU) rose 27.3% in November 2020, according to data from S&P Global Market Intelligence. The rally started when management held an upbeat presentation at a mid-month industry conference.
The memory chip maker’s stock closed 6.8% higher on Nov. 16, following a strong business update from CFO David Zinsner at the Sanford Bernstein Operational Decisions Conference.
Zinsner said that everything is coming up aces in the third quarter, both in terms of market demand and Micron’s operating results. Looking ahead, he saw several significant tailwinds for memory sales in 2021 and beyond.