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Technology Stocks : Alliance Semiconductor

ALSC 0.810

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Jul 10 5:00 PM EST

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To: Czechsinthemail who wrote (8365)	9/7/2000 9:53:23 AM
From: DJBEINO	Read Replies (1) of 9582

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. Message 14341361

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