A Winning Acquisition for the S&P 500's No. 2 in Tech
Micron 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 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 Qualcommand Texas Instrumentsis 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.
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The article A Winning Acquisition for the S&P 500's No. 2 in Tech originally appeared on Fool.com.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.