thanks, tim. now, on to the shredder... ;-)
>>481M in inventory carried at production cost, not carried at market value<<
go ahead and write down at least $130 million of that - or $0.50 a share ;-)
>>ASP on DRAM just under $5.00<<
we'll be under $3 this q. that's $2 lost per chip. OUCH!
>>3-4 months of test equipment problem still ahead<<
no quick solutions. very bad for a "what have you done for me lately wall sweet.
>>Recent contract pricing at $3.50, going under $3.00 soon.
Would not enter large contract at $2.50 to $2.75 now, eventhough Korean spot is
$2.20.<<
funny, mu said they'd never sell dram for $6.50 or below. so, what is mu going to do? lose all the big contracts and massive market share? build more inventory and hold at the higher cost of production - right along with not depreciating lehi for several decades?
>>64mb run rate currently 500,000 annual units, contract pricing on 64mb in $15 to
$18 range.<<
and dropping like a rock as everyone joins the party at the same time. deja vu all over again? ;-)
>>Koreans liquidating inventory ASAP and are assumed to be running at low levels<<
assumed? hmmmm. veddy convenient. last q mu said they didn't know anything about competitor inventories. now they "assume." veddy convenient.
>>Bit growth to be in low single digits each sequential quarter.<<
OUCH!!!!
>>MUEI was 4% of MU DRAM sales.<<
WANNA BET MUEI WAS BUYING ABOVE MARKET? i'll bet muei investors would be happy to know they are sacrificing for good ole mu ;-).
>>Depreciation and Amortization to run around $615M for full year coming.<<
KOWABUNGA, DUDE! $615 million? HASTA LA VISTRA (sp?) to any earnings. add up those losses BIG TIME!
>>64mb crossover in second half.<<
overcapacity strikes again!
>>Refused to answer question about loss in the current qt. 3 times.
Analysts conveyed tone of frustration over lack of forward visibility.<<
why no visibility, mu? can't say anything negative? EVEN IF IT IS RRALITY!
HO HO HO HO HO.
this is horrible, folks. mu is toast. i expect eps revisions down to under $0.50 for the year. that puts mu at a 45 FORWARD pe. nah, i don't think so.
nfli will make $0.50 this year and is $5.50 AND PAYS AN $0.08 DIVVY PER YEAR TO BOOT! give me a break :-) |
