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Technology Stocks : All About Sun Microsystems
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To: High-Tech East who wrote (45554)9/26/2001 4:44:04 AM
From: Steve Lee  Read Replies (1) of 64865
 
"too bad I didn't take my own advice and short this turkey, although I believe someone on this thread said they did"

Message 16193991

Unfortunately, I closed those puts with MU just below $35. Made a nice packet but coulda made more than twice as much.

Bought some more yesterday but only a small earnings play.

BTW, MU lost loads more than their release says. They wrote down hundreds of millions in inventory in the prev Q. That means last nights results had the benefit of counting revenue for products whose cost of sales had already been accounted for.

In reality, they lost about a $Billion on $480MM of sales. And DRAM prices are now quite a bit lower than they were at the end of Aug when the Q just reported closed.
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