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Technology Stocks : Micron Only Forum

MU 252.40

+2.2%

Dec 9 3:59 PM EST

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To: TREND1 who wrote (20253)	9/22/1997 4:59:00 PM
From: Sridhar Srinivasan	of 53903

Larry, a follow up to your thoughts: bear reasons why number is wrong will begin in 46 minutes.... Top ten bear (and inane) reasons why the earnings number for micron is not correct: 10. Kipp (I-am-a-hypster-according-to-the-bears) Bedard was at the analyst conference to discuss earnings. 9. The earnings release did not mention that Steve Appleton, as a high school freshman, had cheated on his math test. 8. Micron has no business being the low cost producer. If they are, they are lying through their collective teeth to mislead the market. 7. Micron's depreciation and inventory valuation was all wrong; to the tune of about 50 cents a share (well, that's how the bare (sic) estimates can come close). 6. The earnings did not account for hidden costs for paying for employee vacations in the year 2099. 5. They did not listen to skeeter burke while making up their earnings, so their numbers are wrong. 4. Micron makes its chips in the USA and sells them in third world countries illegally. The earnings does not account for potential legal liability stemming from such illegal activity. 3. Most of the money was made by the recently sold Micron construction unit and not in DRAMs. 2. The earnings does not account for the potential liability of the El Nino effect on the DRAM market (The El Nino will cause DRAM prices to plummet to a point at which we will be buying silicon chips instead of potato chips and will also drive Frito-Lay out of business). 1. The earnings does not account for significant unstated future and past expenses stemming from the legal liability of causing many bears to be admitted to padded cells - at least those who will step off the ledge - when Micron still reports forty plus percent margins with lower and lower DRAM prices. Statuotory disclaimer: All these statements are meant to be satire and nothing more. Those who take umbrage and suffer mental anguish are doing so at their instigation and risk. Sridhar

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