Like I said after earnings this was a crazy run based on better than expected loss. In many of these articles here on Yahoo I kept reading about an unexpected profit which did not happen. No matter what the pricing situation of the product demand across the board is still weaker than these analysts would like you to believe. Remember this stock came from near $6 in January to over $10. That's quite a move in a short time. A lot of the action in late March was painting the tape to show funds own the quarter's winners and now they are taking those gains. I hope it goes higher since I'm in around $9.50 avg but this is the reality of end of quarters. Depending on the Dow I could see it try to get back to $9.70-$9.80 then peter out.
Some FYI from 3/31/13 news feed "This Boise-based semiconductor device maker saw short interest rise about 14 percent in early March to 83.50 million shares. That was the largest number of shares sold short in at least a year. The short interest has been rising year-to-date and now is more than eight percent of the float.
Micron Technology saw bullish option activity ahead of its most recent earnings report, but Jim Cramer recommended selling shares. The company has a market cap of a little more than $10 billion. The long-term EPS growth forecast of this S&P 500 component is about 14 percent. But the operating margin and the return on equity are both in negative territory.
Of the 27 analysts who were surveyed, all but seven recommend buying shares, 10 of them rating the stock at Strong Buy. But the mean price target, or where the analysts expect the share price to go, is less than three percent higher than the current share price. That target is about the same as the 52-week high.
The share price reached that 52-week high following the most recent quarterly report, and it is now more than 50 percent higher year to date. The stock has outperformed the Nasdaq and the Dow Jones Industrial Average over the past six months."