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Chip maker Micron (MU) is set to report FY231Q earnings after the close of Wednesday. In its last quarterly report, MU guided this quarter’s revenue to $4.250 billion and EPS to 4 cents.

Those represent 45% and 98% declines from a year ago, respectively. It’s going to be a bad quarter but if MU can beat that low bar I think the stock could pop. I like the MU $54 Dec232022 Calls which can currently be had for 45 cents.

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