Ice:
This is a tough call.
Like you, I expect plenty of accounting wizardry, but I think our esteemed Daniel did the bears a favour.
Before Niles spoke, there were two competing arguments:
- The company is going to "surprise" to the upside,....this will extend MU's apparent move out of losses and will be very bullish as it will allow extrapolation by the analysts.
- There is a ton of stock that is going to be sold by TXN and INTC, plus all those who might wish to take an early leave. The numbers won't matter.
Courtesy of Dan, the former point is now "in the market", and it did not help the stock. Additionally, if the company does not meet Nile's "projections" (and I use this term advisedly), or if some of the accounting shenanigans appear a bit too shabby or obvious, the stock takes a hit.
I'm delighted with this turn of events, hence I'm staying "put". (g)
Best, Earlie |
