Suffice to add, I really like Micron. The most recent earnings were superb, and the current valuation, offers a forward PE around 5. On any basis, that is ludicrously low, and frankly, the stock 'should' be priced at least double.
A mid term outlook to $45/50 doesn't seem overly bold, but it'll clearly require the main market to 'stay on the tracks' into spring 2018. On balance.. that seems probable.
There was notable option call buying today...
|Jon Najarian, regular guest on the CNBC lunch hour show.|
Traders were buying the Sept'33s and 36s. Those are pretty bullish upside trades, with barely a full month left on the detonator clock. Regardless of that short term trade though, the mid term outlook for MU looks very bullish indeed.