Going back to Micron.


On earnings day, revenue was $41.46B. The market expected $35.7B. It beat by 16%. It was up 14.6% after hours.
The next day, it surged to a new all-time high of $1,255.
Then what? Profit-taking. Since then, it has given back quite a bit.
PCE also came out: 4.1%. Core 3.4%. Highest in nearly three years.
Warsh’s rate hike is not just scaremongering.
Look at these two together: Micron is the best AI story.
PCE is the hardest macro logic.
One says buy. One says sell.
At times like this, believing either one may not be right.
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