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Micron Tech: Still Too Early

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Micron Tech updated the market with horrible FQ2 guidance.
The down cycle is only starting in the current quarter with historical down cycles lasting multiple quarters.
The company built the net cash balance to record levels indicating the hidden weakness expected.
Investors should expect additional weakness in FQ3 and shouldn't rush into the stock until YoY revenue declines reach a low.
My previous research tried to repeatedly warn investors that doom was still around the corner in Micron Tech (MU). Typically, the memory giant doesn't bottom out until the company has had multiple quarters of substantial revenue declines. The stock just wasn't going to bottom out after the previous quarter where YoY revenue growth was still up at 37%. The FQ2 guidance gets the stock closer to a bottom, but it's still too early to get into Micron Tech.
Read the full article on Seeking Alpha. 

Disclosure: No position mentioned. Please review the disclaimer page for more details. 
 

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