Micron (MU) Hits All-Time High as $2B Virginia Facility Now on Full Gear

Micron Technology Inc. (NASDAQ:MU) is one of the 10 Stocks With Jaw-Dropping 14-74% Gains.

Micron Technology kicked off the trading week soaring to a new all-time high, as investors gobbled up shares following news that it officially started the full operations of its new $2-billion facility in Manassas, Virginia.

In a statement late last week, Micron Technology Inc. (NASDAQ:MU) said that the facility, 1-alpha, is designed to produce DRAM to support the needs of critical industries, including automotive, defense and aerospace, industrial, networking, and medical devices.

micron

Photo from Micron Technology website

The facility forms part of the company’s ambitious $200-billion expansion program and effectively generated 3,100 direct manufacturing and community jobs.

“[This] achievement is an important step in Micron’s $200 billion investment plan to expand memory manufacturing and [research and development] in the US,” said Micron Technology Inc. (NASDAQ:MU) Chairman and CEO Sanjay Mehrotra.

“It reflects Micron’s enduring commitment to the customers and industries that depend on long-lifecycle memory for critical applications. We are proud to bring advanced 1α DRAM manufacturing to American soil, strengthening domestic supply for US customers and the global markets we serve,” he noted.

Following the news, Micron Technology Inc. (NASDAQ:MU) saw its share prices climb to its highest price of $916.76 before trimming gains to end the session just up by 19.29 percent at $895.88 apiece.

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