Most people ignore open interest in the put/call ratio, but I think it has the best lead time.
Going back about 5 months, $Micron Technology(MU)$ was at 421 and the open interest ratio was 1.07 according to barcharts.
Currently $Micron Technology(MU)$ is at 1066 with a 1.03 put to call OI. Honestly, 1.03 is the lowest I can recall for MU.
The 7 day price target is 1500. Not a typo. This is based on historical norms for TTM PE, lowered for the uncertainty around midterm interest rates, oil, and so on.
Current TTM EPS is 45.21. If $Micron Technology(MU)$ reports 34.91, the new TTM and FY26 EPS will be 77.
TTM EPS will go up 71% based on 34.91 adjusted EPS.
Street mean is 31.49, so adjusted TTM EPS would be 73.58, a 63% increase in TTM PE.
As for Burry, I think he is either completely wrong here or being paid to keep memory prices low to cover for whales that shorted memory stocks.
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