Richard, do not misunderstand me, I am not "bullish" on MU right now, I am an MU chicken, here and there I would jump in when my turnips point to a possible run, as they did after the last earning report, but I got out the first time they bounced it back from 28, so I left a lot on the table, but slept well at night.
The point I was going to make, probably with get lack of clarity, that there is no "conspitacy" to raise MU price's to illogical levels, only the sum total of greed and fear of markets participants. The fear factors, are all so well known, one must assume it is well reflected in the price. The greed factors are often forgotten, however, but many have mentioned these on these threads, MU has shown an incredible ability to reduce costs and increase market share in a very difficult environment. They apparently understand this market better than anyone on this thread and know how to exploit its crazy fluctuations, carrying on relatively smooth transitions between the different configurations and improving their technology continuously. As bad as the market in which they operate is, you must take your hat off to their mastery of that market.
On top of that they are quitely developing their RFID and flat mini display businesses to round out their dram business. Frankly, the major big misstep was the premature investment in the Lehi plant, and they have paid for that dearly.
Zeev |
