Micron (NASDAQ: MU) and Lumentum (NASDAQ: LITE) both provide essential components for electronic devices. Micron is one of the world's largest producers of DRAM and NAND memory chips, while Lumentum produces optical chips, 3D-sensing chips, and commercial lasers. Over the past 12 months, Micron's stock has rallied more than 50% as memory prices passed a cyclical trough and started rising again.
5G is here, and mobile service providers are heavily advertising the benefits of upgrading to a new device that can take advantage of the next-gen mobile network. Smartphone sales were up 26% year over year during the first quarter of 2021, according to tech researcher IDC, and some estimates point to over half of those sales being 5G-equipped devices. Lots of work still needs to be done to continuously improve the network infrastructure, and most consumers around the globe don't even have access to 5G yet -- let alone own a 5G device.
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