Micron has struggled during the latter part of the year along with most major chip makers as a trade war between the U.S. and China and a big drop in cryptocurrencies have resulted in bearish sentiment on the sector as a whole. MU was one of the strongest stocks in the overall stock universe in 2016 and 2017, and as a result of its big gains during the time period it was an easy target for profit taking as weakness hit the entire sector. The stock has a ridiculously low valuation at this point with a forward P/E of just 4, but the low valuation has not been enough to attract investors. After growing earnings by 44% per annum over the last five years profits are expected to drop 18% during the current year. Wall Street hates to see earnings contract which is a main reason why the selling pressure has been so intense in MU over the last six months. MU has consistently posted better than expected numbers on both the top and bottom line, and another earnings beat could bring enthusiasm back into the stock.