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Technology Stocks : Micron Only Forum

MU 265.92

+7.0%

Dec 19 9:30 AM EST

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To: Sridhar Srinivasan who wrote (17217)	8/5/1997 4:21:00 PM
From: Imran	of 53903

Even if you could garauntee that MU will have 1995 type numbers next year, it still wouldn't justify the current price. I started a small short position yesterday <ouch!> thinking to short more today, however now I'm going to wait until near Earnings time to open another position. I know that fundamentals aren't what's driving this stock (c'mon a P/E of over 40 to what's basically a commodity DRAM maker) and when fundamentals go out the window the sky's the limit for valuation (check out DELL, AOL, BAANF, DDIM......). 60, 70 , 100? Anything's possible right now. Only a month or so ago TK's 12-month target was 55. Now it's 60+! Did his earnings forecast go up? No. Did they raise his rating on the stock from buy? No. Are they being taken over? Not likely. Enjoy the moment, if you're long. Come September you'll get a dose of reality. I know I'll enjoy that. :o)

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