Sridhar, IMHO there's "analysis" and "trading"; depending on your time frame, the two can be decoupled. On a short-term basis, the fundamentals are lousy; the price rises. Fine.
However, looking at a longer window - and what I'm about to write may border on utter heresy - MU actually does trade on FA.
MU is still about 50% under its two-year high (9/11/95?); INTC, MOT, TXN, have taken out there two-year highs. Why?
The fact that it might trade up as a result of its presentation at the R&S conference at 8:00 a.m. PST (and I'd be REALLY surprised if they came out and said something negative, but anything can happen) or any possible subsequent analyst comments/"reiterations" doesn't mean the people who are bearish on the analysis side are wrong, idiots, etc.
Then again, I totally blew the estimate last Q.
I had them earning 0.43/sh. They earned 0.44/sh.
Ludicrously yours,
Tom |
