Micron Technology (NASDAQ: MU) Should be a Big Winner in 2014

If you've been in the market this year, you are likely pretty happy with your results. Indeed, the bias this year has been all about the bulls, and until we see the price action reflect otherwise, the big winners are likely to keep on giving in 2014.
For traders like me who love to ride strong momentum stocks during bull markets, I think the best place to put new capital to work is in those big winners trading at or near new highs.
One tech stock that fits this description perfectly is Micron Technology (NASDAQ: MU).
The company is one of the largest makers of computing memory chips in the world, but you don't have to have a very long memory to know that the stock has been a trader's dream of late. Year to date, MU has delivered a gain of nearly 245%, an incredible run for a large-cap tech stock that's been around for some time.
And though shares are more than 50% above their long-term, 200-day moving average, there have been scant episodes this year where traders got scared and sold the stock off because it was perceived as being overbought.

From a fundamental perspective, the shares do not seem overvalued. With a current price-to-earnings (P/E) ratio of just under 20, the stock is neither super cheap nor prohibitively expensive.  (more)
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