3 Stocks That Historically Soar in the Second Half
The S&P 500, though lagging behind the Nasdaq, has performed very well so far this year.
While it's important to remember that past performance does not guarantee future returns, let's analyze three stocks that have historically rallied in the second half of the year after the S&P 500 rose more than 10% in the first half.
For that, we will use InvestingPro. By the way, you can now purchase the subscription at a fraction of the regular price as our exclusive summer discount sale has been extended until 07/17/2023!
Founded in 1978 and headquartered in Boise, Idaho, United States, Micron Technology (NASDAQ:MU) is a leading manufacturer of memory chips for computers. They also market their consumer products under the brand name Crucial Technology and are ranked among the top 5 largest semiconductor manufacturers worldwide.
In the past five instances when the S&P 500 rose more than 10% in the first half of the year, Micron Technology shares experienced an average increase of 60% in the second half, spanning from July 1 to December 31.
Additionally, Micron Technology announced a dividend distribution to its shareholders on July 25. Throughout the year, they will pay out $0.46 per share each quarter ($0.115). To be eligible for this dividend, investors must hold shares before July 7. The dividend yield is 0.73%.
Source: InvestingPro
Mark your calendars for September 26 as Micron Technology is set to present its next earnings report. In the previous report on June 28, the company surpassed expectations with higher-than-anticipated actual revenues.
The strong performance of Micron can be attributed to the increasing demand for its memory chips, primarily driven by the thriving artificial intelligence sector. Looking ahead to the
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