$Micron Technology(MU)$ Been following MU and investing in it on and off since 2018.
In 2018 MU was earning $2+ a quarter. They topped at 64, then were in the 40s. Then they announced a $2.70 EPS in a quarter (ie, PE of 4). They guided the next quarter for around 2.20. The stock tanked as everyone knew the upcycle was over.
2 quarter later EPS was like 0.7 or something.
Last CYCLE the peak EPS wasnt as high as 2.70. Last Cycle the trough EPS was MUCH lower than 0.7, it was like -1.90 or something.
So all in all, MU's current cycle has a lower EPS at both trough AND peak compared to 2018... yet the stock traded at 140 when it was 64 in 2018.
tl;dr its overvalued as fuck and if you are long MU right now, you are now learning what investing in MU is like anywhere near a cycle peak.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
