Food for thought on MU....
Interesting how all these analysts were saying how the computer industry will be booming throughout 1999, no slow down, all of this just said at the end of Dec & Jan. MU hitting $80, 52 wk high when it hasn't made a penny. The last time it hit $90 was back in 1995 when earnings were $3.95 (YR) and memory was $43. Today, SDRAM is between $9 to $10.50 and 1998 (YR) earnings were negative (-$1.10). Now, there is concern about a slow down in computer sales, oh my, what a concept. Just goes to show you that these analysts are full of hype and you gotta take them with a grain of salt. If you do your homework and specialize in the computer industry, you should beable to see where this stock will go, better than the analysts. Their only concern is to sell stocks and make commissions at your expense. It is easy to project numbers in the future (1, 2, 3 years ahead), but the reality is that the price should reflect the real numbers. Use your common sense. After watching this stock for a couple of years, I've realized that it is so hyped and there is no true reasoning or reality about it. This stock is perfect for trading due to high volume and intraday highs and lows, but you gotta stick to the technicals on this one.
Just my thoughts after seeing what happened today to the price. Not long or short, but will trade this fish in the future.
|
