Equity Research Reports

Unfortunately not an actionable recommendation. But has potential to be a value play if the share price dips further. The company may be in distress right now on multiple fronts, but its businesses are still largely profit-making, albeit with FCF burn due to CAPEX & R&D. However, there is just too much downside risk surrounding its AIS growth prospects, Tesla, and incoming recession fears, which the market has been pricing in.

I started this blog to track my previous equity research calls and see how my analysis turned out. This is a short report I initially put together last December in 2018 for an interview (prepared within 3 days) which eventually went unused since the interviewer did not ask for a stock pitch. Nevertheless, I enjoyed the process and wanted an avenue to store it somewhere for future references and also to share it with others. Micron in that time period had been somewhat of a "meme" stock with general consensus being divided between it being an overly cheap stock vs a falling knife in a memory downcycle. Between the time of writing of the report and today (Apr 6), MU has gained closed to 15% on the back of easing trade tensions between US and China, as well as a marginal Q2FY2019 earnings beat. The cancellation of a sizeable DRAM order from Samsung by Amazon also added fuel to the rally, as possible Samsung chip design flaws might lead the tech giant to consider a switch to Mi...