Micron: Load Up Before Earnings (Rating Upgrade)

Summary:

  • Micron’s financial performance is improving, with strong liquidity, positive earnings surprises, and promising new product developments, making it a “Strong Buy” before the fiscal Q4 earnings release.
  • Micron’s valuation is attractive after the recent dip, with a 64% upside potential based on DCF analysis.
  • Historical seasonality patterns indicate that the most challenging period of the year for Micron’s stock is likely behind us.

Micron Technology Shanghai Office

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Investment thesis

My previous cautious earnings preview about Micron (NASDAQ:MU) aged well, as the stock lost around a third of its value since then.

A new earnings release is coming soon, and today I want to preview it. I am


Analyst???s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Long position through a purchase of the stock, or the purchase of call options or similar derivatives in MU over the next 72 hours. 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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