David Faber & Joe Kernan (barely) on CNBC:
David: You would think joe, that -- and you said this earlier, that dell's woes, if you want to call them that, would be micron 's gain. Wouldn't that be sort of [s]elf evident?
Joe: Yeah.
David: However, there is an interesting story developing in the dram world where micron , of course, operates. Bear stearns this morning and salomon smith barney both saying some negative things about micron And salomon smith barney, as i told you earlier, downgrading the stock significantly. And also taking their price target down from 150 to $70 a share. The reason appears to be a response from customers of micron They're fighting back in a way saying we're not going to take this anymore, these higher prices. And so, we are seeing companies deacon figure [reconfigure?] system that would require 128 megabits, go to 64, which theoretically cuts demand in half, though not actually......
tveyes.com
That said, it looks like 63 is going to be pretty well-defended for a while. The forced march out of 62 1/8 was only about 20 minutes long, and I guess they're just hoping that they can unload on the rise in the broad markets. I'll be looking again for a buy on a broad-market drop in the afternoon, say 1:30 (a favorite time) or so. |
