At the time, it praised the chip manufacturer's interest in creating new products that simultaneously are getting smaller and more powerful. It was also looking for ways to increase its holdings and market share, such as purchasing Elpida, which increased its ability to manufacture DRAM chips. Sales of these chips grew 42 percent for fourth quarter alone, and chips in general were in demand worldwide because of a continuing interest in smart phones and mobile technology.
Investors also liked seeing Micron's attention and focus on the future, and the stock began a nice rising trend that's still continuing.
Since October, the company's stock has risen from about $18 a share to mid-December, when it was in the high $22 range, occasionally touching $23. Quite a gain from its 52-week low of $6 set at the beginning of 2013, and a similar low ranking the previous year.
With even more impressive gains since October's data came out, what do you think about Micron now?
It's still a good buy, as of mid-December. Though it saw a 1 percent dip to start the week of December. 16, it's has a lot going for it. Similar "buy" recommendations were offered by Japanese holding company Nomura.
So should a smart investor stick with Micron? Many experts say yes - the company continues to innovate and mobile growth is pretty much exploding, or at least breaking new ground.
Like in the world of super computing, where Micron has announced efforts to adapt its Hybrid Memory Cube for petascale level machines.
The company said the Hybrid Memory Cube, or HMC for short, was created especially for applications and products that demand low energy but high bandwidth access to memory. For ultra-fast machines with ultra-fast computing power, speed and memory is the name of the game, but high rates of data buffering and processor applications are also vital.
In a press release announcing the initiative, Micron said that using the HMC in this way can create all kinds of good things, such as the ability to "unlock the potential of a supercomputer's multi-core process architecture will enable exceptional performance efficiency." These efforts can also help science push the boundaries of research and stimulate development into the mysteries of the universe. Not bad at all, Micron!
Powering the computing engines that are hoping to unlock the secrets of the cosmos is good and all that, but is there anything that Micron is doing that is not solid?
Kind of, says analyst Benjamin Graham at NASDAQ.
He recognized that Micron's current sales are great and its efforts in the tech/chip industry also are causing excellent performance.
But he cautioned investors that it maintains a low Price-to-Earning ratio, and though it has had a good run in 2013, its long-term strategy is still uncertain, especially after so many years running with the rest of the pack.
Fellow NASDAQ analyst Kenneth Fisher was even more critical, or at least cautionary, saying that Micron's debt-to-equity ratio of 66 percent is unacceptably high. However, unlike Graham, he said the long-term outlook was favorable - though it had not seen as rapid growth as in 2013, it showed stability.
But a larger possible factor in Micron's future performance is a recent announcement that rival SK Hynix will once again begin producing DRAM chips.
A factory fire in China September knocked it off-line, and the company expected it to take at least until 2014 to repair the damage and ramp up production. It also offered a power play of sorts for Micron and other chip competitors, who were able to see more orders and demand higher prices.
SK Hynix's return to the marketplace earlier than predicted will certainly be beneficial for the Korean supplier but likely not for Micron and competitors like Samsung (OTC:SSNLF).
Overall, Micron continues to show signs of being responsive and innovative and likely will be a smart investment. Though the DRAM market will again be more competitive, Micron has always found ways to diversify the types of chips it manufactures. Even this month, it announced a wider available of 45nm serial NOR Flash memory samples, which offer high performance, extra security plus improved compatibility with legacy NOR devices.