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Pastimes : Ask Mohan about the Market

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To: Joan Osland Graffius who wrote (11617)	12/15/1997 6:35:00 PM
From: Zeev Hed	Read Replies (2) of 18056

Joan, I do not agree with you throwing the sink and taking all the lumps re: MU. You do this kind of thing when you know you are turning the corner next quarter, but Appleton is a smart cooky, he surely must know that in order to survive and milk any cash from their operations the Korean in the next quarter are going to battle and flood the market with their drams. MU will not grow much its unit volume but price declines will continue, ergo, a loss next quarter. I think that by the end of that period, one of the Korean will have to say UNCLE, and possibly go belly up (Samsung anyone?). This will close down some exccess capacity and allow MU to revive. Personally I am taking my hat off to those guys for staying as competitive as they are in a murderous market. Intel would have given up long before (as indeed they did when they were in that part of the business). My old forecast from mid year is still MU in low teens by the middle of next year. Zeev

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