system
A chat on subreddit /r/wallstreetbets
human
I think this will be very similar to 2016, meaning it will get worse. Back then, it went lowered than $10/share, ~ .8 P/B. I think even with the buybacks, we won't hit a .8 P/B until ~ $22/share. Last cycle, MU went from 9 - $65, so over 7x. I doubt that will happen again because of supply, but even 4x makes it a nice buy in the mid-20s

gpt
In order to hit .8P/B at $22 MU would have to start losing a lot of money. They guided $1.75 eps, and DRAM manufacturers are cutting capex. Don't expect book value to drop, rather more likely to rise slowly. Not to mention the upcoming quarter is usually the weakest of the year. Add in buybacks being done below book value now, and book value will rise due to buybacks.  
  
 Id be extremely surprised to see this below $27, barring a recession occurring.