Chip stocks came back at the end of the day. MU was even green! Short term noise. Most of these chip stocks are headed for very low p/e ratios IF the capex spending continues AND shortages in key components continue to give them pricing power.
I was late to MU because I thought it was a typical boom bust cycle stock. But I finally bought a little because it's going to take new factories to increase supplies of HBM memory. That's going to take a couple three years AND MU is the only US based big manufacturer or memory.
I bought AMD leap options earlier because I thought they would see increased sales as NVDA was sold out. The recent acknowledgement that CPU sales are increasing as well was an added bonus that should send it higher. Just as NVDA has the undisputed lead in GPU's, AMD is the leader in CPU's.
I'm a little skeptical of Intel. Financials still don't look that good. Guess we'll find out if investments from Uncle Sam will get them back on track and if their leadership can get them focused on the right products in this boom cycle.
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