This post was just published on ZYX Buy Change Alert.
MU is long from $21.77. It is trading at $60.26 as of this writing. MU has preannounced earnings. There was not much of a surprise in the earnings. MU management repeated its prior stance that DRAM demand remains strong.
In our analysis there are lingering concerns about DRAM demand. In spite of the bullishness of MU management, these concerns are not fully resolved. This is keeping a lid on the stock price. The stock can significantly correct at the slightest sign of weakening DRAM demand.
For those following the ‘Good Way,’ the ‘Buy Now’ rating is a ‘NO.’
The buy zone is $49 to $53.68. The target zone is being raised to $95 to $105.
What To Do Now
Those holding the long term position may consider continuing to hold.
Those not in the stock may consider scaling in on a dip into the buy zone.
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