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MU - Micron: Molodovsky Effect Is Why The Stock Price Is So Low
Micron Technology Inc.
Despite Micron having a very low P/E ratio relative to its peers given a high growth rate of 22.26%, Micron has never reached our Strong Buy price targets.
We determined that the market might be pricing in a discount for cyclicity (Molodovsky Effect) into Micron's stock price.
However, we believe the cyclicity in Micron's earnings will start wearing off, which could then lead to this discount dissipating from Micron's stock price.