So Micron CEO Sanjay Mehrota is calling "the bottom" (again). On Dec. 19, 2018 (exactly 1 yr ago) Mehrota stated Micron was just suffering from a short-term "air pocket" (untrue), the 2nd half of the calendar yr. would be "improved" (it got much worse), the inventory buildup...
would be cleared up "within a couple of quarters" (didn't happen -MU's inventories were up 28% from Dec. 2018 & according to Morgan Stanley (today) Micron's "customers are now also holding inventory, which wasn't a factor six months ago,as Micron again highlighted...(Continued)
inventory builds in China,and our checks show proactive inventory builds from cloud customers as well." Mehrota in December 2018 claimed customer demand was "vibrant" (again untrue as MU's revenues plummeted all year long). So why the heck would ANYONE believe ANYTHING he says?
Yet Micron's stock is up nearly 80% from a yr ago -proving beyond any doubt that fundamentals mean nothing in this market & it's only the Fed's outrageous money printing that's propped up Micron (and the rest of the stock market). The central planners control everything (for now)
