The analyst views the recent dip in MU, INTC, and TSM as a clear buying opportunity and expresses a personal bullish stance on these stocks.
The analyst dismisses the narrative of 3 rate hikes due to lack of new material macroeconomic data and notes that prediction markets do not support the rate hike scenario, implying the dip is an overreaction and a buying opportunity.
Dip looks like a clear buying opportunity for me personally from $MU, $INTC, to $TSM. Since we got a massive drop off BS narratives like 3 rate hikes off no newly material macroeconomic data (which comes out Thursday). If institutions really believed 3 rate hike sellside garbage that BofA put out: They would profit off it with CME/prediction markets. Which are still projecting 74% no rate hike in July. But they don't. So they're feeding retail investors garbage.
| Horizon | Raw move | vs SPY |
|---|---|---|
| 1 day | +1.0% | +1.1% |
| 1 week | +9.4% | +7.6% |
| 1 month | -4.8% | -5.4% |
| 3 months | — | — |
| 6 months | — | — |