Expect Micron (and NVDA) rebound over the next 2-3 weeks
$Micron Technology (MU.US)$ People are probably gonna realise that Micron's earning expectations were over-inflated (since everyone was hoping micron would be the catalyst to $NVIDIA (NVDA.US)$ 's rebound), and begin buying back again due to the fundamentals that it is simply a solid producer of AI chips/parts.
I am expecting to see a recovery easy over the next week, probably to 142-145. If this is reached, market sentiment can likely be said to have recovered and if inflation news is bullish, we might see a resurgence of the tech market. On the other hand, if inflation news is slightly bearish, nothing really changes as the sentiment is already in 'fear'. However, we should still expect to see a rise in price over the next few weeks.
Either way, depending on your horizon, it still makes a lot of sense to hold if you're currently having the stock. Short-term paper hands and short-sellers will probably introduce some noise for profit-taking from day-to-day, but it should still largely be erased in the longer term (quarterly horizon onwards).
We shall see ![]()
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High risk & leverage trading focus on Tech/AI & Crypto. Ex-Software Engineer.
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