gthom9
Long

Micron's Strong Rally

NASDAQ:MU   MICRON TECHNOLOGY INC
Micron updated guidance for Q2 and now expects revenue in the range of $7.2B to $7.35B from prior guidance of $6.8B to $7.2B and of consensus estimates of $7.02B. In addition, the company expects EPS             in the range of $2.70 to $2.75 from prior guidance of $2.51 to $2.65 and consensus estimates of $2.57. The business couldn't be stronger and while recent volatility in the stock market had taken MU under $40 at Monday's close it looks to have made a double bottom . Looking for MU to continue to rally, however the market is in control here and a continued downward trend will derail the recent move.

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