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A Winning Acquisition for the S&P 500's No. 2 in Tech

Micron (NASDAQ: MU  ) closed up nearly 3% today, making it the second biggest tech mover in the S&P 500. The bump can be attributed to the hiring of Mike Rayfield, former head of NVIDIA's (NASDAQ: NVDA  ) mobile unit, to head up Micron's own wireless division.

Rayfield is a great talent acquisition for Micron, which will benefit from his excellent sales history and success at NVIDIA. Competing against quality companies such as Qualcomm (NASDAQ: QCOM  ) and Texas Instruments is difficult to say the least, but under Rayfield, NVIDIA managed to steal quite a few wins from both tech giants.

Considering Rayfield will be able to leverage his experience in the industry to increase Micron's footprint, today's stock jump should come as no surprise.

See more in the following video.

Competition in the tech space is fierce, with an array of strong companies ranging from longstanding giants like Intel (NASDAQ: INTC  ) to up-and-coming new leaders like Micron. To make sense of the trends and pick out a winner, The Motley Fool has compiled a new report called "The Only Stock You Need to Profit From the NEW Technology Revolution." The report highlights a company that has gained 300% since it was first recommended by Fool analysts but still has plenty of room left to run. Thousands have requested access to this special free report, and now you can access it today at no cost. To get instant access to the name of this company transforming the IT industry, click here — it's free.

Eric Bleeker owns shares of NVIDIA. The Motley Fool owns shares of Microsoft and Qualcomm. Motley Fool newsletter services recommend NVIDIA. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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  • Report this Comment On September 19, 2012, at 9:55 PM, GeorgeCarranza wrote:

    Mike was my manager for a short time at Cisco Systems. He understands technology, but more importantly, he understands customers. Congrats to MU on a great hire!

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