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Actionable news in MU: Micron Technology, Inc.,

Micron Earnings Preview: 3(X) Cash-Flow Looks Tempting, But Need Evidence Of A Turn

Fundamentals should start to stabilize.

Cash-Flow Valuation tempting, but free-cash-flow negative.

Micron trading very close to 1(x) book value of $11.84 per share.

Evidence of a turn in fiscal '17 and '18 is building.

Micron (NASDAQ:MU), the DRAM and NAND semiconductor giant, reports their fiscal Q3 '16 financial results after the close on Thursday, June 30, 2016.

Street consensus is expecting a loss of $0.09 per share on $2.95 billion in revenue for a year-over-year drop in revenue of 23% and, well, a hefty decline in earnings thanks to a $0.54 compare last year at this time.

Two quick points...