2020 will be a booming year for new technologies.
And that could help extend profits for these top tech stocks.
One analyst says Micron Technologies (NYSE: MU) could be a big winner from new 5G devices.
Go here to access my top 5G stocks (it’s LIVE today).
Cowen analyst Karl Ackerman is giving Micron an “Outperform” rating and a $70 share price target.
That’s a 24% increase from yesterday’s closing price of $56. Now, nobody’s going to complain about those types of returns.
Yet these little-known 5G stocks could deliver 286% – 562% profits in coming year.
Micron Technologies is a leading maker of DRAM and NAND semiconductors. This memory is used in computers, mobile phones, servers and smartphones.
Cowen says that new 5G phones will use 50% more memory than current smartphones.
In December, Micron Technology’s CEO explained that 5G “will be positive for both memory and storage content growth, as well as smartphone unit sales.”
Last year, Micron stock jumped nearly 70% based on a strong outlook.
In particular, the company’s DRAM business is expected to get a boost in the second half of the year.
Additionally, Micron is a supplier of memory to China’s Huawei. Right now, the trade war means that Micron can’t supply its products to Huawei. And therein lies the opportunity.
The 2020 election may pressure President Trump to make meaningful progress in the trade war. And any progress in the trade war between China and the U.S. could be a big positive for the stock.
Now 5G may be a positive development for Micron. Yet it’s a small piece of the overall business.
The biggest 5G profits will be delivered by “pure play” American 5G stocks.
It’s still the early innings for this groundbreaking new technology.
That’s why I’m hosting the exclusive 5G Profit Project today. It’s 100% free to attend – you just need to confirm your seat.
See you there,