The chipmaker's upcoming earnings report will be critical in determining where its stock goes next, experts say.
div > div.group > p:first-child"> While it has recovered by nearly 30 percent since the chipmaker reported a disappointing quarter in December, experts say Micron's fate hinges on its after-the-bell earnings report Wednesday.
"Thus far, we've only done about a 55 percent decline, so if history is any guide, perhaps we have another 15 percent to go on the downside," Gordon said of Micron's most recent dip."I'm wondering, if the numbers are weak tonight, could we go down and test that weekly level?" If Micron's quarterly results disappoint again, they could send the chipmaker's stock"down into the $40 range or even lower," he said."So, if there's weakness, I'll be looking to short Micron in a very confusing semiconductor space."
"We are in a technological revolution that's going to continue, so someone in that space is going to get it right," Bapis said in the same"Trading Nation" interview.
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