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Technology Stocks : Intel Corporation (INTC)
INTC 47.14-6.1%Feb 10 3:59 PM EST
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To: Dom B. who wrote (32437)9/22/1997 7:24:00 PM
From: Fred Fahmy   of 186894
 
Dom,

Re: MU, MER, and Kurlak

Actually, MER and Kurlack were about the last ones to realize what was going on (and has been going on) with the DRAM industry. Today's announcement by MU was known for a long time by everyone who follows the DRAM industry. Tremendous overcapacity and continued falling prices in the DRAM industry were hardly a secret or surprise. The only thing that was inexplicable was how Kurlack was able to tout the stock all the way to 60 despite everyone knowing how poor the fundamentals were. Apparently, there are even bigger morons out there than Kurlak..His downgrade wasn't a stroke of brilliance but a correction for an obvious earlier miscalculation. BTW, his downgrading of INTC is just as off base as his earlier touting of MU. In other words, he corrected one huge mistake but replaced it with an equally large miscalculation (i.e. downgrade of INTC).

No...there was no "private pre-announcement". Kurlack was just a little slow in comprehending the well documented problems in the DRAM industry.

BTW, the short position in MU was enormous way before Kurlack downgraded the stock. Again, this is because everyone who follows the industry knew that MU had no mathematical chance of hitting the consensus estimate.

Good luck to all,

FF
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