### Comment:
Does touching book value or going below book value imply that the market is expecting the company to lose money? 
  
 I thought of it as market expecting negative eps but then the rally from the bottom is the hope that prices are recovering.

### REPLY:
Implies the market believes EPS = 0 meaning there won't be any growth and whatever is on the books is how much the company is worth. Which is obviously untrue when it comes to Micron. Hearing confirmation of 2H recovery from other semi memory companies helped, for sure, but it's not anything Micron didn't forecast when they reported in December.

### END.