Micron: This Is Not A Disaster


  • Micron’s doomsayers have returned as they finally realized its previous “low” valuation multiples are justified, given the company’s cyclical operating model.
  • But they should have promulgated their pessimism when MU was much higher in H1’22, as its valuations were at much lower levels, not now.
  • With Micron’s forward estimates significantly de-risked, this is the time for semi investors to be excited, not dismayed.
  • As MU falls back to its September lows, investors who lamented they missed its previous bottom have been proffered another fantastic opportunity to add.
  • But are you ready to take the plunge when given the opportunity, with the steep pullback?

stock market crash sell-off - trading screen in red


We gleaned so much fear over Micron Technology, Inc.’s (NASDAQ:MU) FQ1’23 earnings release in the media and among analysts that the doom and gloom have continued to persist.

We discussed in our previous article highlighting that the demand/supply dynamics

MU NTM EBITDA multiples valuation trend

MU NTM EBITDA multiples valuation trend (koyfin)

MU price chart (weekly)

MU price chart (weekly) (TradingView)

Disclosure: I/we have a beneficial long position in the shares of MU either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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