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Technology Stocks : Semi Equipment Analysis

SOXX 299.81

+2.7%

Dec 19 4:00 PM EST

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To: Donald Wennerstrom who wrote (43755)	3/16/2009 12:11:48 PM
From: Donald Wennerstrom	2 Recommendations Read Replies (1) of 95617

March 16, 2009, 10:00 am MU: Seeing DRAM Market Consolidating, Caris Upgrades Posted by Eric Savitz Caris & Co.’s Betsy Van Hees this morning upped her rating on Micron (MU) to Buy from Average, boosting her price target on the memory chip company to $5, from $2.25. “We are incrementally more positive that the memory industry is finally nearing a favorable supply/demand environment due to further reductions in utilization rates by the memory suppliers,” she writes. Van Hees says demand trends “remain muted” by weak consumer discretionary spending, but that “DRAM suppliers are once again adjusting utilization rates downward.” She thinks that should lead to price increases in Q2. “We view MU as the best positioned memory company in our universe to benefit from the improving fundamentals of the memory market” in the second half. Van Hees says she expects consolidation in the Taiwan DRAM market, either through the government’s new Taiwan Memory Co. plan, or through the bankruptcy of one or two of Taiwanese DRAM suppliers. MU today is up 9 cents, or 2.5%, to $3.73.

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