Cor, I think that MU cannot wait until 2008 to build their 300 mm fab, they will force the conversion earlier, watch the "scenario" develop again...More than a year ago, in post #reply-13228767 I suggested that he first scenario was partially required to "rectify " the balance sheet so they can go back to well, well, now they are preparing the ground. I think those guys at MU are masters at forecasting the market longer term, and I would be very surprise if those warrants do not have a "forced conversion" clause in it. If they have a forced conversion clause, that will have to be at least a a 20% premium o the nominal cost, thus about $87. To keep it above that price, they will have to overshoot, the question is, will they overshoot enough to print a valid new high above $98 and close there. If that happens, by gosh we can see MU above $100 again. Yet, my "bet" is still just above $80 within two years, at least until I have a chance to see the 8K related to these warrants. Long live scenario II.
Zeev
Zeev |
