Micron Technology (MU)

[JLS]

Just a suggestion;

Check the charts to see what MU historical price has done as earnings estimates have beat. It usually does not get a pop from that even when estimates are beat and future estimates are increased for the following period.

I expect MU to beat as they preannounced. But as I suggested, that may not be enough, AND their forward guidance might be an increase but weaker than typical previous guidance on a percentage basis. That, I think, would cause share price to go down significantly farther.

If $40 doesn't hold as support, then there is minor support at $36 but no major support till $32. I still suspect that MU had good reason to put off share buy-back till September (as they expected months ago a weaker period in the near future, so that buy-back is their way of helping to support the shares until the memory market improves).

Typically one would expect greater activity at the manufacturing level as Christmas approaches (because that's the biggest sales period of the year). So one would expect higher memory prices now, but they aren't -- in fact they are lower.