MU - Micron Earnings: Here's Your Buying Opportunity
2024-06-27 12:07:38 ET
Summary
- Micron's stock surged to nearly $160 due to AI optimism and strong earnings, but has since retreated.
- Micron reported solid earnings, but the stock sold off due to guidance in line with expectations.
- Micron is in our $125-135 buy-in zone, offering a good buying opportunity with the potential for robust profitability and revenue growth.
The last time I mentioned Micron Technology ( MU ), we discussed how it became one of the highest-flying large-cap stocks on Wall St. and likely needed some time to cool off. Micron's stock surged from around $60 to nearly $160 due to AI optimism and better-than-expected earnings during the past year. However, Micron hit a blowoff top recently, and the stock has been retreating ever since....
Micron Earnings: Here's Your Buying Opportunity