you, just like sridhar in $40s and $50s - remember those times? ;-), are confusing the perception of fundamentals with actual fundamentals.
Skeeter, thanks for invoking my name. The discussion we had then, of perception being reality, albeit changing ever so rapidly (I mean perception), will be valid now and in the future. The point that I was trying to make then, and that David is trying to make now, is that fundamentals are rotten; everyone agrees on this. Even you, the ultimate DRAM bear, would not have forecast prices where they are now. However, the stock behavior often is a leading indicator of things to come rather than a trailing indicator.
Having said this, I would be the first to admit that you have been more right in calling the MU price action than I have been. However, an added caveat here, is that, the MU price has probably been the most accurate indicator of the downturn. It is instructive to go back and look at MU stock price visavis the rotten turn the fundamentals kept taking.
Well, this is not terribly surprising, because the market at large, especially the folks who play with real money, obviously have a closer and a clearer view of the fundamentals than you or I would have. Well, if all this does not make sense, you can still chuckle and say that Sridhar has not changed much.
Best Regards,
Sridhar |
