SB:
I agree. My tongue probably wasn't sticking out of my cheek enough on that statement.
As much as I truly admire MU's engineering gang, the big problem is out of their hands. The acceleration in yield around the planet is exacerbating the problem. Prices won't hold. Supply side just keeps on galloping. PC slow-down just makes it worse.
I also think you are dead on accurate about where MU is at the present,....close to break-even, so long as the interest stays out of the equation. (g)
This next few months will be interesting. The cheerleaders will point to "better results" as evidence of an improving situation, but the PC slow-down will also be more in evidence, which will probably start to enter the thinking of the heavily exposed funds. Many of them will also recognize an approaching blizzard of selling (INTC and TXN) and will want to be "long gone" before it hits. Many funds have nice profits at these levels, so why be greedy? Memory pricing will cave once the big Asian ramps start to impact the spot markets (say about another two months).
My expectation is a slow descent, that will confound the lambs. Why is it going down even as the results improve? Deft pro selling will be the cause. (Never harm the golden buying geese with heavy-handed feeding). And as you note, ....pennies, not dollars. (g)
Best, Earlie
Best, Earlie
The problem is that prices won't hold |
