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Stocks (from 23) ing to Yahoo!’’s Simply Wall Street.
“Micron has been a value stock for years.
revenue of $27.70B, net income of $5.86B Back when (hedge fund) Klarman first
and an EPS of $5.14. started buying the shares, the business
looked cheap on traditional valuation met-
For its first fiscal quarter of 2022, Micron rics. The company has also laid out huge
reported GAAP revenue of $7.69 billion amounts of capital to return to investors
on net income of $2.31 billion and an EPS via buybacks.
of $2.04. For the same quarter in 2021,
revenue was $5.77 billion, net income was Cyclical business
$803M and EPS was $0.71. “However, the chip industry is an inherent-
ly cyclical business, and this is why growth
Wall Street’s opinion investors often overlook the company.
Micron inhabits what has become the The cycle of any cyclical industry is always
verycrowded memory space with the two challenging to predict. The next upswing
South Korean giants and the nascent could be months or years away.
Chinese memory makers. Based on its
growth however, it has become a Wall “Luckily for the value investors that have
Street favorite. been buying in the past decade, the indus-
try is currently experiencing a swift up-
Micron is one of the most-owned stocks swing, producing large profits for Micron
among value-focused hedge funds, accord and its peers. next page
E-mail roniscoff@
gmail.com for rates.
