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Technology Stocks : Micron Only Forum

MU 237.16

+4.6%

Dec 5 9:30 AM EST

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To: Carl R. who wrote (43921)	3/17/1999 11:28:00 AM
From: Zeev Hed	of 53903

Carl, forgetting for a moment the short term fluctuations in MU, to justify today a price of $50/share, I have to see visibility of MU having sales of some $12.5 billions sometime in the next five years, let us even assume generously that their current capacity could reach $6 billion/year (a good 100% or so above current last 12 months selling rate), where will they come up with the minimum of $2 billion or so required to double their existing capacity or quadruple their current production rate over the next five years? Surely not from earnings, and their Balance sheet is already heavily weighed down with all these convertible (and take your hat off to Appleton for get conversion rates in the $60 to %70 area <G>). Zeev Zeev

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