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Technology Stocks : Micron Only Forum

MU 234.19

-2.2%

Dec 3 3:59 PM EST

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To: Steve Lee who wrote (51606)	7/14/2000 5:57:33 PM
From: Jeff Leader	Read Replies (1) of 53903

The smart money (TI, Intel, Simplot, Appleton and many MU insiders) has been selling for a few months now. But a lot of not-so-smart fund managers and retail investors have been sucking up the shares. Some day these folks will wake up and realize they are paying 50x near-peak earnings for a cyclical commodity semi company which is growing (LT) at 15-18%. The question "What was I (were you) thinking?" will be asked many times. But it's hard to know what will trigger the epiphany. It probably won't be the sell-side analysts (at least not publicly, anyway). Especially now that they've whipped the crowd up into such a frenzy that folks send death threats to people who try to pop the balloon....

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