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Technology Stocks : Micron Only Forum

MU 251.80

+2.0%

1:46 PM EST

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To: Grim Reaper who wrote (6134)	12/14/1996 11:46:00 PM
From: Bipin Prasad	of 53903

Grim, I am not arguing with you about momentum and trends. That is Larry's area of expertise. He concurs with you that the trend is on your side. I am just saying that the fundamentals (in DRAM only evaluation of Micron price) is seriously stacked against you. This means that a sudden and dramatic drop is possible. In DRAM, Micron did not just loose money because of DRAM price drop, they lost market share in dollar terms. This is surely an important aspect. How much of a premium are you willing to pay for a DRAM business that is loosing market share ? Most people will answer in negative percentages not positive 100%+. More importantly (and Larry asked you this question more succinctly), how much more premium are you going to pay from this point forward. Are you willing to go 120%, 140%, 150% ? And why ? Any answer below 100% means a price decline from here.

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