I've been watching Micron lately, and I'm wondering if it's a good time to buy or if there's more downside ahead.
The stock is already down around 30% from its highs, but it's still up over 200% this year. AI demand looks strong, and the forward P/E seems pretty low.
But memory prices are cyclical, competition is tough, and I'm not sure how long this AI spending bo-m can last.
I'm tempted to buy the dip, but after such a massive run, another pullback wouldn't surprise me.
Anyone buying MU at these levels, or waiting for it to drop further?