Can The Spending Continue? Micron Says Yes.
If investors believe it will last, then this market has a lot more room to run Says Tom Essaye
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“Can the spending continue — is there enough capital to continue to fund all this? And Micron came out and basically said yes, yes, there is,” Sevens Report Research founder Tom Essaye told Yahoo Finance on Thursday.
Essaye noted that despite Micron’s massive earnings growth, the stock still trades at around 10 times forward earnings, roughly half the multiple of the broader S&P 500.
“If investors believe it will last, which Micron’s earnings helped reinforce that idea, then this market has a lot more room to run,” Essaye said.
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