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Technology Stocks : Micron Only Forum

MU 239.40

-0.4%

3:59 PM EST

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To: DJBEINO who wrote (44426)	3/26/1999 12:57:00 PM
From: TechTrader42	of 53903

Did you see this one, too? SEATTLE, March 25 (Reuters) - NationsBanc Montgomery Securities sharply reduced its fiscal 1999 and 2000 estimates for Micron Technology Inc. Thursday based on expected further declines in chip prices, an analyst said. For the current year ending Aug. 30, the brokerage cut its estimate to $0.05 per share from $0.22, analyst Jonathan Joseph said in a report. For 2000 the earnings estimate was cut to $1.30 a share from $2.35. Joseph said U.S. spot prices for 64Mbs memory chips are in the low $8 range and "should head rapidly to the $7 range, anew low." The brokerage retained its hold rating on the stock. Micron shares closed down $6, or 11 percent, at $47.375 Thursday on the New York Stock Exchange. Copyright 1999, Reuters News Service

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