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Technology Stocks : Micron Only Forum

MU 244.90

+1.6%

Nov 12 3:59 PM EST

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To: Czechsinthemail who wrote (51747)	9/7/2000 9:24:07 AM
From: Glen2	Read Replies (1) of 53903

Several analysts will soon come to the rescue of Micron, after the downgrade yesterday from DLJ. Here's the first that I've seen, from Bear Stearns: Micron Technology (MU) - DRAM Fundamentals Appear Sound, Raise estimates - Reiterate Buy Charles F. Boucher (415) 772-2953, Brian Wu · MU and semi group have been under pressure due to concerns over slowing PC demand and the possibility of DRAM inventory liquidation pressuring contract pricing. · We believe contract pricing is stable, and strong demand for DRAM will likely cause prices to remain firm. Additionally, we believe recent spot market price declines are a poor indicator of the overall DRAM market, since tight availability of product has limited spot market activity to very low levels. · We are raising est's on MU for the August qtr from $0.80 to $0.92 (FC $0.90), for FY01 from $5.45 to $5.60, and for FY02 from $5.80 to $6.05. We think overall industry and DRAM fundamentals are very much intact, and the recent sell-off in the stocks will turn out to be another buying oppy. · We reit our Buy rating and our $140 12-month target price.

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