Micron is up roughly ~40% since I made this post, it's still at an ~11 P/E and, in my view, significantly undervalued. This morning it is now down nearly 7% in PM on no news. From what I can gather, Samsung posted their first quarterly loss in 3 years and it's causing a tech sell off, but MU is being hit the hardest. At this point I am not entirely sure if that's the reason, given Sandisk is only down 1.2% PM and they have a much higher P/E (19) than MU does. This could be a fantastic buying opportunity, but I would recommend waiting a few more hours to hear if there is any more news before pulling the trigger.
Edit: Seems that Goldman Sachs analyst Mark Delaney wrote something about DRAM capacity, which is the reason for the selloff, not the Samsung news. Unfortunately, no public copy of that report is online yet, so I have no idea how serious of an issue what he shared is, if serious at all. I'm not sure how some analyst would know something about DRAM capacity that Samsung, Micron, and Sandisk don't, because according to all news coming from them, supply is limited and demand is growing, giving the oligarchy more pricing power.
Edit 2: I have no idea why so many people were attributing the loss to Samsung earnings. They did indeed post a profit decline, but not a loss. They also posted stable supply and growing demand of DRAM, which is good for Micron. That rumor seems to have been started because people were looking for any explanation as to why Micron was dropping so significantly in pre market. The reason is definitely because of the GS downgrade, as mentioned in my first edit.