Micron Reached a 52-Week Low on a Weak Forecast. Is There Still Time to Buy the Dip?

seekingalpha2022-07-08

A weak forecast sent Micron (NASDAQ:MU) spiraling earlier this month, with the maker of computer memory and data storage equipment falling to a new 52-week low. Softening demand forced the company to ...

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Comments

T2huat
2022-07-08
T2huat
Ok
Chase Chua
2022-07-08
Chase Chua
I brought MU yesterday.
AlexTeddySG
2022-07-08
AlexTeddySG
Is nt this stale news
jethro
2022-07-08
jethro
thanks for the share

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Softening demand forced the company to ...</p>\n\n<a href=\"https://seekingalpha.com/news/3855150-micron-reached-a-52-week-low-on-a-weak-forecast-is-there-still-time-to-buy-the-dip\">Source Link</a>\n\n</div>\n","source":"seekingalpha","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Micron Reached a 52-Week Low on a Weak Forecast. 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Is There Still Time to Buy the Dip?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-07-08 09:51 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/3855150-micron-reached-a-52-week-low-on-a-weak-forecast-is-there-still-time-to-buy-the-dip><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>A weak forecast sent Micron (NASDAQ:MU) spiraling earlier this month, with the maker of computer memory and data storage equipment falling to a new 52-week low. Softening demand forced the company to ...</p>\n\n<a href=\"https://seekingalpha.com/news/3855150-micron-reached-a-52-week-low-on-a-weak-forecast-is-there-still-time-to-buy-the-dip\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4581","symbol_name":"高盛持仓","start_time":0,"source_url":"https://seekingalpha.com/news/3855150-micron-reached-a-52-week-low-on-a-weak-forecast-is-there-still-time-to-buy-the-dip","article_id":"2249684738","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2249684738","pubTimestamp":1657245104,"sourceInfo":{"source_id":"seekingalpha","name":"Seeking Alpha"},"weMediaInfo":null,"summary":"A weak forecast sent Micron (NASDAQ:MU) spiraling earlier this month, with the maker of computer mem","collect":0,"end_time":0,"defaultTopTitle":"seekingalpha.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4581":"高盛持仓","BK4512":"苹果概念","INTC":"英特尔","BK4549":"软银资本持仓","AMD":"美国超微公司","BK4548":"巴美列捷福持仓","BK4170":"电脑硬件、储存设备及电脑周边","MRVL":"迈威尔科技","NVDA":"英伟达","BK4529":"IDC概念","BK4515":"5G概念","BK4554":"元宇宙及AR概念","BK4532":"文艺复兴科技持仓","BK4553":"喜马拉雅资本持仓","MU":"美光科技","BK4567":"ESG概念","BK4534":"瑞士信贷持仓","BK4533":"AQR资本管理(全球第二大对冲基金)","BK4575":"芯片概念","DELL":"戴尔","BK4566":"资本集团","BK4535":"淡马锡持仓","HPQ":"惠普","BK4543":"AI","BK4527":"明星科技股","BK4579":"人工智能","BK4550":"红杉资本持仓","BK4141":"半导体产品","BK4503":"景林资产持仓","GFS":"GLOBALFOUNDRIES Inc.","BK4551":"寇图资本持仓","BK4573":"虚拟现实"},"translate_title":"美光在微弱的预测下达到52周低点。还有时间买蘸料吗？","themeId":"","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"NVDA":1,"AMD":1,"DELL":1,"HPQ":1,"INTC":1,"MRVL":1,"MU":1,"GFS":0.67},"content_text":"A weak forecast sent Micron (NASDAQ:MU) spiraling earlier this month, with the maker of computer memory and data storage equipment falling to a new 52-week low. Softening demand forced the company to rethink its near-term assumptions, sparking a general slide in the sector.However, since that point, the stock has bounced off its low and the company continues to point to longer-term secular demand for memory and storage. Is it time to buy MU in anticipation of an long-term recovery?Warning and RecoveryOn June 30, Micron Technology (MU) released a mixed Q3 report. The firm beat expectations with its bottom line but came up shy on its revenues.Meanwhile, investors focused on the firm's forecast, which dramatically undercut the amounts experts had predicted. MU forecast Q4 revenue between $6.8B and $7.6B. Analysts were looking for a figure above $9B.On the profit side, MU predicted quarterly EPS between $1.43 and $1.83. That range came in well below the $2.62 consensus of the Wall Street community.Shares dropped in the immediate aftermath of the earnings report, sliding to an intraday 52-week low of $51.44. This marked a decline of about 48% from a 52-week high of $98.45 seen early in the year.Signs of sagging demand also put immediate pressure on the broad sector. Stocks like Dell (DELL), HP (HPQ), Nvidia (NVDA), AMD (AMD) and Intel (INTC) all retreated following the MU report.However, while the knee-jerk reaction to the forecast sent the stock spiraling to a new low, buyers quickly stepped in. The day after the earnings report, the stock touched a 52-week low of $51.44 -- but still finished the day at $53.65. Shares lost 3% on the day as a whole but only after surging 4% from their intraday nadir.Meanwhile, the recovery carried over into the following session, when the stock jumped almost 6%, with another set of gains booked on the subsequent day. With the stock higher again in Thursday's intraday trading, rising to $58.86, MU has now rebounded by 14% since its post-earnings low.Is MU a Buy?Given the quick snapback from the disappointing forecast, does MU have further to run in the near term?Wall Street remains upbeat on the stock. Of the 35 analysts surveyed by Seeking Alpha, 23 have given MU a Strong Buy rating. Another six have issued a Buy opinion -- meaning more than 80% maintain a bullish recommendation.Among the rest, five analysts have given the stock a Hold rating. MU has also garnered a single Sell opinion.The average price target sits at about $81, a 38% rally from current levels. However, that number has come down significantly in recent months, amid a wave of recalibrations after the earnings report.Quantitative figures show a more cautious view. Seeking Alpha's Quant Ratings give MU high marks for valuation, profitability and growth. However, the stock receives a C+ for momentum and a D for revisions.For more on Micron (MU), see a deep dive by Seeking Alpha contributor Bill Zettler, who does a head-to-head comparison with AMD. Looking at another potential investment, fellow SA contributor Jonathan Weber weighs Marvell Technology (MRVL) versus MU.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":9073068324,"gmtCreate":1657250458268,"gmtModify":1676535979780,"author":{"id":"4097408260137130","authorId":"4097408260137130","name":"T2huat","avatar":"https://static.tigerbbs.com/1a4dd163528b9498d56683bd49a808d2","vip":1,"crmLevel":4,"crmLevelSwitch":0},"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9073068324","repostId":2249684738,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9073081940,"gmtCreate":1657249214981,"gmtModify":1676535979542,"author":{"id":"4104544697131890","authorId":"4104544697131890","name":"Chase Chua","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"hat":"https://static.tigerbbs.com/b073a07f77dbe6b3bec6b12311fde6bd","crmLevel":3,"crmLevelSwitch":1},"htmlText":"I brought MU yesterday.","listText":"I brought MU yesterday.","text":"I brought MU yesterday.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9073081940","repostId":2249684738,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9073033624,"gmtCreate":1657247177468,"gmtModify":1676535979052,"author":{"id":"3571116462495160","authorId":"3571116462495160","name":"AlexTeddySG","avatar":"https://community-static.tradeup.com/news/fe3bd70688adbe645a97bfe4c0ae9c96","vip":1,"hat":"https://static.tigerbbs.com/f84d87792f02cf78e80ee34979fd31e5","crmLevel":8,"crmLevelSwitch":1},"htmlText":"Is nt this stale news","listText":"Is nt this stale news","text":"Is nt this stale news","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9073033624","repostId":2249684738,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9073099376,"gmtCreate":1657245975496,"gmtModify":1676535978768,"author":{"id":"4103089604754610","authorId":"4103089604754610","name":"jethro","avatar":"https://static.tigerbbs.com/445b4765728802a2e3b3795587bae0a3","vip":1,"hat":"https://static.tigerbbs.com/4c5ceab71416b120bab4604c0754b52a","crmLevel":6,"crmLevelSwitch":1},"htmlText":"thanks for the share&nbsp;","listText":"thanks for the share&nbsp;","text":"thanks for the share","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9073099376","repostId":2249684738,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":67,"commentSize":5,"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,"deviceId":"web-server-community-laohu8-v3","version":"4.24.2","shortVersion":"4.24.2","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/2249684738"}