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Jabran Kundi

HISTORICAL FACTS: Micron stocks sell off wont last heres the simple reason why - The Untold Story

Micron Micron Stock Stock Memory Sanjay Mehrotra

Micron (MU) stock is down 17.5% since June 25, one day after it announced its fiscal second quarter earnings. I had pointed out in my Micron earnings preview that I still had conviction in the company’s business. However, the stock was worth selling considering the volatility and risk involved. As it turns out, the stock’s slump since the earnings has proven that this risk was not worth taking.

Now that the stock is down, the question arises that if the business is as sound as before, what’s a good entry point? Bank of America Securities came out with an update on July 6, and they have the answer to the above question. To begin with, their price target stands at $1550, so they still see massive upside from this point onwards. Micron is one of their top picks right now.

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