Is the rumor true, we are trying to find out.
We can say this, after looking at the stocks / P/E's of lesser public companies, in the computer / technology industries and other industries, and then looking at the price of Micron, if the company is not purchased by Intel ( INTC ), Qualcomm ( QCOM ), Taiwan Semiconductor ( TSM ), Qorvo ( QRVO ), Microchip Technology ( MCHP ), Western Digital ( WDC ), Broadcom ( AVGO ) or someone else, it will be a miracle.
Look at Cracker Barrel ( CBRL ), trading at 19 x trailing 12 months, with a P/E of $9.00...STOCK PRICE = $172.00 (yes, we understand it's a restaurant - that doesn't change for or P/E for P/E)
So, even if Micron sales drop , and E.P.S drops to between $8.00 and $9.00, the stock should be trading upwards of $175..? No..? E.P.S is E.P.S right...?
Cracker Barrel has a market cap of only $4.2 Billion while Micron has a market cap of $41 Billion...
Look at MCHP , trading at $73.00 with a market cap of only $17 Billion... P/E....? 32 x trailing 12 months...? OMG!
Look at QRVO , trading at $63.50 with a market cap of only $7.7 Billion... P/E...? 460.33 x trailing 12 months...? OMG!
MICRON is one of a handful, if not the only UNDERVALUED STOCK ON THE STOCK EXCHANGE
Corrupt Analysts calling for more of a drop in the price of Micron could soon be kicking themselves in the teeth!
We will continue to keep adding Micron to our portfolio at these FIRE SALE PRICES!
IT'S REALLY DISGUSTING WHAT IS HAPPENING TO MICRON!
WALL STREET HAS MICRON ALL WRONG AND SOON, THEY WILL ALL BE JUMPING OFF BUILDINGS!
HAPPY THANKSGIVING TO ALL OUR FOLLOWERS!
The funniest part about this is that if they waited until the down cycle to buy back $10B worth of shares, they could have bought back most of their own company. Is every CEO/COB retarded? AAPL, IBM, MU, etc all bought back stock at the peak. MU has a horrible habit of going to single digits, that could have been avoided this time if they held cash.
Market timing says to wait 12 - 36 months from the peak before buying MU. Wouldn't consider going long on MU for at least 2 more earnings reports. Buy when it flatlines after reporting.