>>Pete, Micron is not a two bit sham company that the bears make it out to be. They
have shown the smarts to survive in a very tough commodity market, <<
micron is very good at what they do and i've expressed admiration for them on several occasions - mixed with a little amazement.
>>and profitably, at
that.<<
they've had 1 good - great - quarter and muei made their other 3 quarters - as well as a big one time, nonrecurring gain. btw, i warned people that mu was going to have a great q last q and said pete was silly for his ridiculously low estimate.
>>You can't hold Kurlak down to the things he has been wrong about as a basis to
knock him down. He has also been correct about calling the turn around.<<
he's also great about calling dram "bottoms" every month and NEVER calls a dram "top." of course, this is b/c of his unbiased position on mu ;-) your point is well taken - but he is a tout through and through, lest anybody be misled. this doesn't mean he's necessarily wrong, though.
>>While I agree that the current market conditions represent excessive valuations, I don't
concur with your views on Micron. I think that they have a good opportunity and the
skills to survive and be profitable in a growing memory market.<<
stock investing is all about valuation. the question that i feel is important is whether mu can grow eps. although anything can happen, i think at this point it is silly to assume that next q they will earn more than last q with muei possibly hurting their bottom line and 16 mb down 30-40% in the last 3 months.
a 20-1 horse may come in and win the race, but it is ill advised to make a 2-1 bet that it will. especially when the 20-1's fate is 100% in the hands of the other horses' benevolence ;-)
are you long mu at these levels or is this just an intellectual discussion for you?
best of luck. |
