Yeah, some "funny" stuff going on.
Selling started early and heavy to start the day, and it just continued throughout the day and sped up again during the last 2 hours. It would be interesting to read what Harlan Sur of JPM thought of his meeting today with INTC.
Shares of Micron Technology ( MU) are down $1.91, or 4%, at $43.64, following an appearance this morning by chief financial officer Ernie Maddock at an investment meeting held by J.P. Morgan, in which he was interviewed on stage by JPM analyst Harlan Sur.
The meeting was in conjunction with the Consumer Electronics Show trade show taking place in Las Vegas this week .
The discussion between the two included contemplation of falling prices for NAND flash chips, which Sur said has been "a particular concern of the market."
Maddock brushed aside the worry, saying that the expected amount of increase in " bit supply," the basic measure of how much is produced by the industry in total, is 40% to 50% this year, and that such a level of production can easily be absorbed by rising demand.
"This has the setup to be an incredibly healthy environenrnt," said Maddock:
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