3 Reasons to Buy Micron While Everyone Else Is Selling
Micron Technology (NASDAQ: MU) held its fiscal third-quarter earnings call last week, with earnings per share (EPS) coming in ahead of expectations. Micron has been outperforming from an operating standpoint this year, but its stock has nevertheless declined 42%.
Unfortunately, the earnings call confirmed what investors had been fearing; demand has slowed considerably, especially in phones and PCs, which make up about half of Micron's revenue. Thus, management guided for a 17% revenue decline and 35% earnings decline for the current quarter.
The beginning of a downturn may seem like the time to dump Micron's stock; however, if history is any guide, investors should probably be adding, or dollar-cost-averaging, rather than dumping the stock today. Here are three reasons why.
Source Fool.com
