Micron is the king of DRAM (dynamic random access memory), and when they reported earnings recently, they noted that pricing was firm and demand was strong. That stoked competitor Smart Global, a niche player with some decent earnings of its own.
Even though technology stocks have been taking it on the chin this week, Smart Global has been a light in a very dark room. Take a look at the chart below. Note the strong money flow and recent shallow pullback on lower turnover. Relative strength is impressive too, and while a period of sideways action is probable here, its move up in March was just stunning. For a tech stock, this chart is quite impressive.
We often see the big money flow into the sector on the coattails of top-performing names. If the market starts moving higher again, Smart Global will likely draw some interest.