Micron had another poor quarter due to a weaker demand than expected for their memory chips. Reading about Micron's poor performance makes you think why would you want to invest in a company that is so dependent on the economic environment?

As a long-term investor (holding stocks for as long as possible), it doesn't make a lot of sense to invest in a company with a cyclical revenue stream. Micron can have an extremely good year when tablets and computers are in high demand, then a horrible year when everyone has bought their tables and the demand for a new product is severely diminished.

It doesn't mean you can't make money from investing in product/commodity-driven companies. In reality for these types of companies, you should be investing in them when demand for their product is weak, hoping to earn a return when the product eventually rebounds. When everyone is doom and gloom about Micron's prospects, it's probably the best time to buy Micron.