Seeking Alpha

Micron (MU): FQ1 beats by $0.33, beats on revenue

  • Micron (MU): FQ1 EPS of $0.77 beats by $0.33.
  • Revenue of $4.04B beats by $0.32B. Shares +6.1% AH . (PR)

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Comments (35)
  • TFCAB
    , contributor
    Comments (2006) | Send Message
     
    destroyed it
    7 Jan 2014, 04:14 PM Reply Like
  • Rumpel Pumpel
    , contributor
    Comments (325) | Send Message
     
    this makes me happy =) cant w8 for the short squeze $$$$
    7 Jan 2014, 04:16 PM Reply Like
  • Clayton Rulli
    , contributor
    Comments (2918) | Send Message
     
    +1 liked
    7 Jan 2014, 04:37 PM Reply Like
  • Copious28
    , contributor
    Comments (416) | Send Message
     
    +1 Liked for me too!
    7 Jan 2014, 05:15 PM Reply Like
  • tuliptown
    , contributor
    Comments (1063) | Send Message
     
    Russ and Phred

     

    well played

     

    and, thanks!
    7 Jan 2014, 04:15 PM Reply Like
  • The_Hammer
    , contributor
    Comments (4264) | Send Message
     
    Cha Ching! Greed is not even priced in yet. Lots of investors jumped off this gravy train to early. just because it has gone up 200%-300%+ does not make it a bubble. earnings power is enormous
    7 Jan 2014, 04:17 PM Reply Like
  • Mark T. Phillips
    , contributor
    Comments (578) | Send Message
     
    Smoked.
    7 Jan 2014, 04:17 PM Reply Like
  • fjm9898
    , contributor
    Comments (25) | Send Message
     
    didnt even touch the 52week high.
    Bad CC history might be holding it back a bit?
    7 Jan 2014, 04:18 PM Reply Like
  • bgold1955
    , contributor
    Comments (2237) | Send Message
     
    Yep, if cc goes well, 52 week high will be taken out IMO. Very strong beat on both top & bottom numbers.
    7 Jan 2014, 04:22 PM Reply Like
  • buffett222
    , contributor
    Comments (1097) | Send Message
     
    I hope Barron's and Reuters get it right this time.
    7 Jan 2014, 04:20 PM Reply Like
  • FullFocus
    , contributor
    Comments (30) | Send Message
     
    BÄÄÄÄÄÄM!!!!
    7 Jan 2014, 04:21 PM Reply Like
  • Philip Marlowe
    , contributor
    Comments (1189) | Send Message
     
    wooohooo!
    7 Jan 2014, 04:24 PM Reply Like
  • Moderation
    , contributor
    Comments (385) | Send Message
     
    Three comments:

     

    1. Thank you, Russ.
    2. Thank you, Russ.
    3. Phew!!
    7 Jan 2014, 04:25 PM Reply Like
  • rauer
    , contributor
    Comments (5) | Send Message
     
    Russ, is the man!!! He had this well pegged. Alot of bad guesses by the Professionals!!! M&A middle market professional for 30 years+. The acquistion does not mean 1 plus 1 equals 2.
    7 Jan 2014, 07:54 PM Reply Like
  • dserradas
    , contributor
    Comments (52) | Send Message
     
    BOOOM!!! What a 1/4, $25 here we come!!!
    7 Jan 2014, 04:25 PM Reply Like
  • RonJadler
    , contributor
    Comments (41) | Send Message
     
    Thanks to all those who have engaged on both sides of the dialog about MU.. Obviously on the plus side, thanks to Russ, Phred, DTMM, RSA, etc. Not just the fans but also want to recognize the folks with counter arguments. Great constructive dialog.
    And since I'm not a sheep.. I'd like to thank myself for taking the insights from these folks and doing my own analysis!

     

    It will certainly be interesting to see how this opens tomorrow.. ok, time to get on the call.. praying for strong forward guidance!
    7 Jan 2014, 04:32 PM Reply Like
  • Bull-Market
    , contributor
    Comments (479) | Send Message
     
    Agreed.
    7 Jan 2014, 06:06 PM Reply Like
  • The Bluesterman
    , contributor
    Comments (407) | Send Message
     
    Same song
    next verse
    "I'm pointing to where Micron is going!"
    7 Jan 2014, 04:37 PM Reply Like
  • fjm9898
    , contributor
    Comments (25) | Send Message
     
    233Million on the RAMBUS... big chunk of change.
    7 Jan 2014, 04:40 PM Reply Like
  • Copious28
    , contributor
    Comments (416) | Send Message
     
    That wont be in next quarter either! Woot!
    7 Jan 2014, 05:16 PM Reply Like
  • Kenpogi
    , contributor
    Comments (56) | Send Message
     
    Russ you hit the EPS and Revenue!
    Thanks a lot!
    7 Jan 2014, 04:40 PM Reply Like
  • Humble Eagles
    , contributor
    Comments (2151) | Send Message
     
    4X would be over 16Bn and $3 a share!! At the Nasdaq 100 PE of 21 MU would be selling for over $60 a share. I would say the standard memory cyclical implosion is already priced in MU! What a qtr! The funny thing is that a lot of these goofy, little to no profit internet and social media stocks are selling for 30-50X earnings. If MU were a social media memory company, it could be selling over $100!
    7 Jan 2014, 04:40 PM Reply Like
  • Robert.from.Ct
    , contributor
    Comments (640) | Send Message
     
    How is the conference call going?
    Guidance?
    Thanks,Robert
    7 Jan 2014, 04:54 PM Reply Like
  • Tollsforthee
    , contributor
    Comments (411) | Send Message
     
    Thanks to Russ and all the other great commenters on SA. For once on the Street, the little "dumb money" goes for a huge homerun.
    7 Jan 2014, 05:47 PM Reply Like
  • l3keo
    , contributor
    Comment (1) | Send Message
     
    Easy pizy. TP 25.
    7 Jan 2014, 06:35 PM Reply Like
  • planters99
    , contributor
    Comment (1) | Send Message
     
    What are u guys expecting in tomorrow's trading ?
    7 Jan 2014, 06:35 PM Reply Like
  • tradingalpha
    , contributor
    Comments (175) | Send Message
     
    Thank you to everyone in this group for writing your opinions and comments.
    I enjoyed reading all of it very much, and I'm glad it worked out well for all of us!
    7 Jan 2014, 06:35 PM Reply Like
  • fearless195
    , contributor
    Comments (134) | Send Message
     
    Thanks to those who called it long on MU - it feels good not to be totally alone as bear sentiment drives things down. Helps prevent a nervous exit!

     

    And thanks also to those who called it short - the short squeeze awaits us, and more.

     

    What an elegantly appointed casino this is, such beguiling croupieres!
    7 Jan 2014, 06:35 PM Reply Like
  • philtommo
    , contributor
    Comments (2) | Send Message
     
    Great call Russ. Read your article and bought in yesterday!
    7 Jan 2014, 06:35 PM Reply Like
  • hneumann
    , contributor
    Comments (632) | Send Message
     
    Thanks Russ and Phred and others for the realistic numbers before ER.
    Could go to around $ 25 soon, and stay there for some time.
    7 Jan 2014, 07:39 PM Reply Like
  • Brabant
    , contributor
    Comments (3) | Send Message
     
    Bought this morning after the small pre-earnings sell off. I'm more than content. :)
    7 Jan 2014, 07:51 PM Reply Like
  • PA
    , contributor
    Comments (83) | Send Message
     
    Oh no DB is saying this:
    MU reported GAAP EPS of $0.30, however clean EPS was $0.77, above DBe of $0.62
    and Street at $0.44. (Street may be a mix of PF and GAAP and therefore the comparison
    is less meaningful). We note despite the sharply higher revenue, GP $ was only slightly
    higher than DBe. The bulk of EPS upside to DBe was driven by lower tax expense,
    lower operating expenses, higher minority interest contribution, and lower share count.

     

    Our $20 P/T equates to 1.7x Price/2014E Sales estimate exclusive of sales to
    Intel. Our P/Sale multiple is above the 5-year average of 1.3x. We believe this is
    appropriate given meaningful FCF generation and deleveraging of the balance
    sheet for the first time in nearly three years. Margins remains below cyclical
    peaks suggesting the memory cycle has further room to run. Risks to the
    upside & downside revolve primarily around the supply and demand for
    memory products and the impact on ASPs. Industry supply growth is driven by
    access to capital and timing of new technology nodes. Demand is largely a
    function of the macro economy and unit growth of PC/Server and wireless
    handsets.

     

    Clearly Db is not a believer yet just like STX at 20(they were bearish then too)
    7 Jan 2014, 08:36 PM Reply Like
  • smartone
    , contributor
    Comments (15) | Send Message
     
    how can anyone not think their rev will go up from here? Apple is rolling out new products and signed the china deal. MU supplies Apple. What am I missing?
    7 Jan 2014, 11:23 PM Reply Like
  • Nate Sterling
    , contributor
    Comments (545) | Send Message
     
    Russ is crying all the way to the bank (tears of joy that is) with his 200 fold return on highly leveraged call options in MU since 2013. Thanks to Russ and RSA for the good advice. I think MU continues higher on this positive momentum to 30 within a year, two at most.
    8 Jan 2014, 01:16 AM Reply Like
  • Bandido
    , contributor
    Comments (16) | Send Message
     
    "MU"chos gracias to Russ and the gang on this board
    8 Jan 2014, 01:23 AM Reply Like
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