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Technology Stocks : Semi Equipment Analysis
SOXX 289.38-3.4%4:00 PM EST
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To: Sam who wrote (71574)2/12/2016 3:33:16 PM
From: Donald Wennerstrom1 Recommendation

Recommended By
Sam

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Micron closed last Friday at 11.00. By last night they closed at 9.90(they actually traded as low as 9.40 during the day) down -10% for the 4 days. Only RBCN(-22.2%) and SUNE(-12.3%) were lower. Micron is presently trading in the #4 spot in the SOX index, and the #2 spot in the SOXM index. They are up about 4% for the day trading around 10.08. That means they are presently down about 92 cents(-8.4%) from Friday's close.

I constantly marvel at the distain Micron has absorbed in the market. I don't think there is anything they can do at the moment to change their perception on Wall Street. There are several authors on SA that keep up a constant barrage on how bad Micron is with an article every week or two. Given their fundamentals and future estimates, Micron should be trading in at least the 25 to 30 dollar range, but that is not what the technicals say.

From the first of the year when Micron was trading in the 14 dollar area, the price has fallen to the 11 to 9 dollar area where it has been trading for the last 20 trading days. The way Micron has been behaving it could easily breech the 9 dollar level and who knows where it might level off. As of last Friday, from 28 analysts putting forth 12 month target prices, the high value was 23, the low value was 10, and the mean was 16.88. Micron may finish above the 10 dollar mark today, but I wouldn't bet any money on it.
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