Micron, Cisco & AT&T: Lessons From Dot Com Bust

Micron is cited as an example of buying at a cyclical peak, with revenues said to have collapsed 70% within a year after bullish analyst upgrades. The article argues that price-to-sales ratios are a reliable warning signal for cyclical tops, implying meaningful downside risk when valuations peak. The piece is directional and cautionary rather than event-driven, so the likely market impact is limited but negative for sentiment.

Analysis

Micron is cited as an example of buying at a cyclical peak, with revenues said to have collapsed 70% within a year after bullish analyst upgrades. The article argues that price-to-sales ratios are a reliable warning signal for cyclical tops, implying meaningful downside risk when valuations peak. The piece is directional and cautionary rather than event-driven, so the likely market impact is limited but negative for sentiment.