MU is trading at values which bear no relation to its fundamentals. Thinks of this: If any other company said it was going to earn $2.90/shr next quarter and reasonably could anticipate duplicating that in future quarters, or at least earn $2.50 per share quarterly, what should it be trading at in this market? There is no argument to be made that it should be trading in the $40s. The lack of a major drop off in revenues/income is a testament to MU's belief that the historical cyclical nature of its business as a commodity product is now being mitigated by demand from different sources, and the higher complexity of the product. The proof is there, but the powers that control this stock don't care. This is a struggle between longs and short sellers. MU needs to take action to inflict pain on the shorts. Share buybacks wont do it.