The violent selloff that rattled AI stocks over the past couple weeks wasn’t the beginning of the end. It was a buying opportunity dressed up as a crisis, and I can show you exactly why.
Here’s the proof: Micron (MU) reported the biggest beat-and-raise I have ever seen from that company, and the stock jumped 15% after hours. That single print reversed an entire selloff that had been building since Broadcom (AVGO)‘s earnings kicked off this wave of “extremely high expectations meets extremely high expectations” fatigue.
Beat-and-raises hadn’t been enough for the market lately. Micron came to the table and said: here’s a beat-and-raise for you, market, what do you think about that? The market said: bought.
Everybody is screaming “bubble” right now, but the data says this bubble hasn’t even started inflating yet.
This post originally appeared at InvestorPlace.