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Technology Stocks : Micron Only Forum

MU 362.75

+7.8%

Jan 16 9:30 AM EST

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To: TREND1 who wrote (32772)	5/3/1998 8:00:00 PM
From: mike iles	Read Replies (1) of 53903

Larry, What isn't missing are bad fundamentals ... too much supply/ too little demand ... weak balance sheet (uh, more debt than cash) ... negative cash flow from ops ... anemic capital spending (one way to win in a commodity business is to spend heavily at the bottom .. sort of like that driver in Grand Prix many moons ago ... 'when I see a bad accident I put my foot down because I know everybody else is lifting off' ... a laggard in moving to 64 Mbits ... failure to diversify away from DRAM (RIP davidG's comment that they're a good company in a bad industry. Actually, David I agree. They're one of the best at mfg. DRAM. But it's a sh*tty industry so you have to fault the board for not trying to do something about that) ... etc.. Larry, since MU is not trading at <$10, as you so perceptively pointed out, I guess what is missing is any common sense in the market. This is not surprising 'cause we're in the final blowoff stage of what has been a manic bull market (is there any other kind?). The psycho stage. Which means betting against MU's $30 valuation is like shooting fish in a barrel ... if you take a long enough view. regards, Mike

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