$MU Micron earnings report via /r/wallstreetbets #stocks #wallstreetbets #investing


$MU Micron earnings report

Well first of all, gratz to all of the GME apes out there! Now for those of use who don’t play GME, I would like to discuss Micron Technology, Inc which is expected* to report earnings on TODAY 03/29/2022 after market close.

What do you guys think about Micron’s prospects coming into this ER. I am sure it has been affected a little bit by this whole Ukraine situations and supply chain issues, but with their current PE of 12 I think they don’t need to report much to be in the green after ER. We are still hearing about the chip shortage so the demand for chips is strong (ye I know, MU doesn’t make chips, but memory and storage devices, tomato tomatoh).

Also U.S. Senate approves $52 bln chips bill in bid to reach compromise which would benefit MU and which they might shed some light on during their ER.

They had a nice run from October 2021 to January 2022 from $65 to $91, then dipped and tried to reclaim $91 but failed and dipped hard again at the beginning of the March, probably fueled by the Ukraine situation. It found a bottom at $69 and is now sitting at $79.

I think it could test $90 after the ER if they guide for minimal Ukraine impact in their supply chain. Now granted there has been a small rally anticipating the ER but I think this rally has more legs.

Also playing QCOM as I think its share price would benefit from strong MU report.

Would love to hear some counter arguments or why I am a retard for playing this. Some confirmation bias would also go a long way, cheers!

Positions:

75 MU @ 76

35 QCOM @ 154.5

No options as I am an Europoor

Submitted March 29, 2022 at 10:17AM by –Martin–
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