Unless of course the market has now decided that its all about the past and that future expectations are now meaningless.
As the fy16 estimates continue to come down from first big move down over the wekend its hard to see a scenario that the stock rallies into falling estimates that will very likely settle ~ $1 for all of fy16.
as a head fake when one also factors in the much lower than expected forward guidance.Some may not think the forward guidance was "too bad" but given the expectations were already drastically lowered before they lowered it again I think it was nothing less than horrific.
Perhaps the very low $10's may be seen in the coming months once its accepted that MU will be lucky to do $1 now for fy16.
So indeed the 10 multiple may very well hold for MU once all the estimates come down as expected.
Thats about the best job I can do for MU to put lipstick the results that are now expected for them in fy16.
After all the remaining analysts have chimed in with their fy16 eps estimate cuts along with lowered price targets and the mean estimate is just ~ $1 or possibly even below $1 I don't believe we will see a single digit stock price.
The double digit multiple hasn't been warranted for many years for mu and is certainly not warranted now after they sharply lowered their outlook.
I personally can not recall since its been many,many years.
With fy16 estimates now at $1.49 and most certainly going to come down further has more analyst revise their estimates down after that shockingly dismal Q1 guidance they released.
The first wave of analyst cuts after that dismal Q1 guidance has chopped it down to $1.49.After all of the analysts have weighed in I expect the fy16 mean estimate to be closer $1
Nobody wants micron to fail but they are just being realistic on what to expect from mu over the next year..
FY16 estimates are now chopped down to a mere $1.49 after just the first wave of analyst cuts following the dismal guidance they put out.
He posted some excellent facts about micron..You posted nothing except the standard long's BS.
I have the patience to wait until all of the analysts have chimed in with their cuts after the drastically lowered new guidance that was given and will go long again ~$8.
Give that expected $1 estimate for fy16 that is now very likely and you get a fair market valuation of $8 with the standard 8 multiple it normally carries.
Of course the $1.49 mean estimate is just the first wave of analyst cuts.
Would not be surprised to see the fy16 mean estimate closer to $1 when all the analysts have chimed in.
Micron has never carried a double digit multiple.
Give it the standard 8 multiple it normally carries and you get a fair market valuation of $12.
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