Micron's Spectacular Rally May Not Have Happened If Not For McDonald's Potato Supplier

Benzinga_recent_news05-30 04:56

For Micron Technology, that period came in 1980 when the company wanted to build a DRAM memory chip fab in Boise, Idaho, as reported by blogger Trung Phan. Micron was founded by twin brothers Ward ...

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If the company hadn't gotten $1 million from a famous potato farmer, it might not exist today.","collect":0,"end_time":0,"defaultTopTitle":"benzinga.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU2360106780.USD":"BGF WORLD TECHNOLOGY \"A4\" (USD) INC","LU2458330243.SGD":"FRANKLIN SHARIAH TECHNOLOGY \"A-H1\" (SGDHDG) ACC","BK4588":"碎股","LU2250418816.HKD":"BGF WORLD TECHNOLOGY \"A\" (HKD) ACC","LU2931357623.SGD":"MANULIFE GF GLOBAL SEMICONDUCTOR OPPORTUNITIES \"AA\" (SGDHDG) ACC","BK4605":"半导体精选","IE00B5949003.HKD":"JANUS HENDERSON GLOBAL TECHNOLOGY AND INNOVATION \"A\" (HKD) ACC","LU2750360997.AUD":"INVESCO GLOBAL EQUITY INCOME ADVANTAGE \"A\" (AUDHDG) INC","LU0642271901.SGD":"Janus Henderson Horizon Global Technology Leaders A2 SGD-H","LU0792757196.USD":"TEMPLETON SHARIAH GLOBAL EQUITY FUND \"A\" (USD) ACC","LU2048586759.USD":"ALLIANZ SMART ENERGY \"AT\" (USD) ACC","LU0082616367.USD":"摩根大通美国科技A（dist）","LU0157215616.USD":"FIDELITY GLOBAL FOCUS \"A\" INC","LU0203347892.USD":"SCHRODER ISF QEP GLOBAL ACTIVE VALLUE \"A\" (USD)  INC AV","LU0127658192.USD":"EASTSPRING INVESTMENTS GLOBAL TECHNOLOGY \"A\" (USD) ACC","LU2471134523.USD":"INVESCO GLOBAL EQUITY INCOME ADVANTAGE \"A\" (USD) ACC","LU2471134796.USD":"INVESCO GLOBAL EQUITY INCOME ADVANTAGE \"A\" (USD) INC","IE0009356076.USD":"JANUS HENDERSON GLOBAL TECHNOLOGY AND INNOVATION \"A2\" (USD) ACC","LU1803068979.SGD":"FTIF - Franklin Technology A (acc) SGD-H1","MUU":"2倍做多MU ETF-Direxion","LU0719512351.SGD":"JPMorgan Funds - US Technology A (acc) SGD","LU1366333091.USD":"FIDELITY GLOBAL FOCUS \"A\" (USD) ACC","MU":"美光科技","BK4532":"文艺复兴科技持仓","LU0889566641.SGD":"FTSF - Templeton Shariah Global Equity A Acc SGD","BK4554":"元宇宙及AR概念","LU2471134952.CNY":"INVESCO GLOBAL EQUITY INCOME ADVANTAGE \"A\" (CNYHDG) INC","BK4543":"AI","BK4512":"苹果概念","LU0109392836.USD":"富兰克林科技股A","LU2471134879.HKD":"INVESCO GLOBAL EQUITY INCOME ADVANTAGE \"A\" (HKD) INC","IE00B7SZLL34.SGD":"Legg Mason ClearBridge - Value A Acc SGD-H","BK4527":"明星科技股","LU1914381329.SGD":"Allianz Best Styles Global Equity Cl ET Acc H2-SGD","BK4553":"喜马拉雅资本持仓","LU2357627491.SGD":"TRP GLOBAL VALUE EQUITY \"AH\" (SGDHDG) ACC","LU0081259029.USD":"UBS (LUX) EQUITY FUND - TECH OPPORTUNITY \"P\" (USD) ACC","LU2543165471.USD":"E FUND (HK) GLOBAL QUALITY GROWTH \"A\" (USD) ACC","BK4141":"半导体产品","BK4585":"ETF&股票定投概念","IE00B19Z3581.USD":"Legg Mason ClearBridge - Value A Acc USD","MUD":"1倍做空MU ETF-Direxion","LU1267930813.SGD":"FRANKLIN TEMPLETON SHARIAH GLOBAL EQUITY \"AS\" (SGD) ACC","LU1323610961.USD":"UBS (LUX) EQUITY SICAV - LONG TERM THEMES (USD) \"P\" (USD) ACC","LU0859254822.USD":"T ROWE PRICE GLOBAL VALUE EQUITY \"A\" (USD) ACC","LU2286300806.USD":"Allianz Cyber Security AT Acc USD","LU0889565833.HKD":"FRANKLIN TECHNOLOGY \"A\" (HKD) ACC","LU2089985449.USD":"MANULIFE GF GLOBAL SEMICONDUCTOR OPPORTUNITIES \"AA\" (USD) ACC","BK4533":"AQR资本管理(全球第二大对冲基金)","LU0154236417.USD":"BGF US FLEXIBLE EQUITY \"A2\" ACC","MULL":"2倍做多MU ETF-GraniteShares","GB00BDT5M118.USD":"天利环球扩展Alpha基金A Acc","BK4575":"芯片概念","BK4566":"资本集团","LU0056508442.USD":"贝莱德世界科技基金A2","LU0274383776.USD":"MANULIFE GF US SMALL CAP EQUITY \"AA\" (USD) INC","LU2054465674.USD":"UBS (LUX) KEY SELEC SICAV DIGITAL TRANSFORMATION T \"P\" (USD) ACC","LU2211815571.USD":"ALLIANZ POSITIVE CHANGE \"AT\" (USD) ACC","IE00B19Z3B42.SGD":"Legg Mason ClearBridge - Value A Acc SGD","LU1316542783.SGD":"Janus Henderson Horizon Global Technology Leaders A2 SGD","LU2750360641.GBP":"INVESCO GLOBAL EQUITY INCOME ADVANTAGE \"A\" (GBPHDG) INC","LU0203345920.USD":"SCHRODER ISF QEP GLB ACT. 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They were also able to eventually get Simplot to invest $1 million in the company.\nWhile Simplot knew plenty about chips of the potato flavor, he had limited knowledge of memory chips. The businessman was able to recognize that DRAM had become a commodity market with Japanese competition pushing prices down and hurting margins.\nSimplot gave Micron $1 million for a 40% stake in the company and helped it build the fab it wanted in Idaho. The investment paid off with Micron able to produce chips at lower costs thanks to the new facility and cheaper energy and land in Idaho.\nJapan later imposed a tariff on Simplot's potatoes, prompting President Ronald Reagan to impose a tariff on Japanese chips.\nMicron became one of the largest companies in the DRAM memory chip market in the 1990s alongside SK Hynix and Samsung. The growth helped Simplot's stake become worth billions. Already a billionaire from potatoes, Simplot was now a \"chip\" billionaire as well.\nSimplot sold off portions of his stake in Micron over the years and his family and the company currently own no shares of the trillion-dollar company. The potato billionaire passed away in 2008 at the age of 99 years old, worth an estimated $3.6 billion at the time, the 89th richest person in the world. Had he held onto the Micron stake, Simplot and his family would have been worth significantly more.\nMicron remains a large employer in the Boise market.\nSimplot remains one of the key suppliers of frozen potatoes to McDonald's today. His story outside of investing in Micron is equally successful.\nAccording to Phan, Simplot left home at the age of 14, took $80 from his mom, and turned it into 600 pigs and a new way to make pig slop, which led to his pigs being fatter than those at other farms.\nThe entrepreneur would pivot to potatoes and never graduate from high school. It wasn't just potato farming for Simplot; it was about recreating the industry.\nIn the 1930s, Simplot pioneered automatic potato sorters, helping him earn his first million dollars. In the 1940s, the millionaire helped develop new potato-drying technology, which helped feed World War II soldiers. The 1960s saw Simplot invent a new freezing method for potatoes, which led to his McDonald's deal.\nThe McDonald's deal helped Simplot become a billionaire.\nSimplot lived to be nearly 100 years old and arguably had two hugely successful careers, one in the potato sector and one in the chip sector.\nImage via Shutterstock\nTo add Benzinga News as your preferred source on Google, click here.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.42.3","shortVersion":"4.42.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2639086586","isCrawlerRequest":true}