Why is Micron Technology quotes resisting correction?

Micron Technology Inc. (MU) manufactures memory chips to maintain a positive monthly trend, despite the current correction in the US stock market. 

At the auction on December 2, MU stock rose by 1.37% to $85.15. The company remains a beneficiary of the growth in demand for semiconductors, and the MU ticker is less dependent on rising interest rates than software company stocks. 

Last Thursday, Micron settled an old intellectual property dispute with Taiwanese semiconductor manufacturer United Microelectronics. Resolved the disagreement in favor of Micron – UMC agreed to make a one-time payment of compensation, did not name the amount. 

In addition, on Wednesday, December 1, Micron announced the expansion of its partnership with UMC – the companies will jointly develop and produce solutions for cars and mobile devices. At the same time, the company expects long-term cooperation and benefit from the fastest-growing areas of the electronic components market. 

Probably, we are talking about the supply of DRAM and NAND memory chips from Micron for UMC, which produces chips for third-party customers. The partnership will help solve some of the supply chain problems in the electronics industry. In 2022, a favorable situation may develop for Micron. 

Demand for semiconductors continues to increase, and shortages due to COVID-19 will drive sales as companies seek to improve inventory for sustainable production. Currently, the market may move into a correction state, and purchases are associated with increased risk. However, Micron investors can still be satisfied with the dynamics of MU.