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WDC - Micron Technology: Definitely A Buy After Weakest Quarter Earnings Release
Western Digital Corporation
Micron Technology (MU) has released earnings today with a bit of positive surprise. It beats both earnings and revenue estimates. Right after that, its share price jumped by more than 5%. We had expected the second quarter to be a weak quarter, as the second quarter is seasonally the weakest quarter of the year in this memory & storage industry. In the next two quarters, we anticipate more good things, improving operating performance. We remain of the opinion that Micron is a good buy to ride the upcycle in this industry.