One lagging Nasdaq 100 stock looks 'ridiculously cheap,' trader says. Why it may be time to buy (via TradingNation)
Chipmaker Micron's stock could prove to be a strong catch-up trade, Joule Financial founder and chief investment officer Quint Tatro told CNBC's"It is trading at valuations now that are just ridiculously cheap," a nearly seven times forward price-to-earnings multiple as of Tuesday's close, Tatro said Tuesday.
With a "stellar balance sheet" and a sizable position in the computer chip market, Micron is poised to pop if demand for computers picks up, Tatro said.
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