Micron Technology (MU)

[JLS]

yes, I know ...

Did that for a reason -- to emphasize that IMHO going forward AMD is now a much better trade than MU.

Data provided by Thomson Reuters:

MU Trailing P/E = 4.4; and, my opinion, wont substantially exceed 5.0 till hell freezes over. So, maybe the company buy-back of shares will lift the stock. MU would have to rise by over 40% just to get back to its closing high of $62.62 in late May. And that is interesting because to get from a PE of 4.4 to its normally acceptable PE of 5.0 is only a 14% increase. That infers that a return to $62.62 is highly unlikely.

One can usually not count on a pop after MU announces earnings, even when they beat and are good and guidance is raised. With that in mind, I would not want to be playing Russian roulette with Micron's upcoming earnings report. Will price pop this time because it's starting from such a low base? If it tries to, others that missed the selloff of the previous weeks might try to sell then, and that could bring MU down even further.