John,
Upside is an interesting print and web magazine going back to the early 90's. DJ's article promted me to take another look at it -- it's been a while since I visited there -- so many sites, so little time (bg). I was impressed with the site and the content -- worth a look IMO if you are interested in technology.
I've not heard of Zlotinkov before and did a couple of searches on the net -- no references to his name that I could find. Interesting that he thinks that MU's "real agony is just beginning" yet doesn't believe there is any real downside for the stock.
Some interesting links at www.upside.com:
upside.com
upside.com
I was curious about Jim Evens and looked up some of his previous articles. He appears to keep tabs on MU. A previous Evens col:
GREED IS GOOD: 3/16
March 17, 1998
By Jim Evans
Egads. The Dow and Nasdaq hit new highs on Monday, proving that the moneyed are still more powerful than any politician around (many attribute the bounce to super-investor Warren Buffett's favorable comments on the overall market). Because really, who would you rather trust right now: Bill Clinton or Larry Ellison?
OK don't answer that.
The Dow closed above the 8700 mark for the first time, jumping 116.33 to 8718.85 and the Nasdaq hopped along, adding 16.50 and settling at 1788.16.
More Banking Rumors
Before we chronicle the comings and goings on Tech Street, there are more banking rumors to advance. Everyone's heard the speculation that DMG will not re-sign its all-star group of tech bankers, led by the smooth one, Frank Quattrone.
Most say Quattrone will start a boutique tech bank to fill the void of BancAmerica Robertson & Stephens and Nationsbank Montgomery Securities (he denied he's even leaving). Now come rumors that Merrill Lynch, which has reportedly turned its glances away from Hambrecht & Quist, is now eyeing the tech-banking business of UBS Securities.
If true, what does this say about the staying power of the Germans and Swiss? An Asian financial crisis and they're out the door? Stay tuned for flying resumes.
Micron Sucks
At least right now it does. The memory-chip supplier has long been one of the most mysterious stocks to investors. With a commodity business and strong competition from giant Asian suppliers such as Samsung, Micron has a business that only a mother could love.
Then came Monday's after-trading Q2 earnings report, with Micron losing 23 cents a share. Zack's average estimate for the company was a loss of 14 cents per share. Oh boy. Micron closed up 3/4 to 33 3/4, after coasting above $34 most of the day. Guess some traders smelled a rat as the announcement neared.
A midday e-mail from Merrill Lynch's Micron guru, Thomas Kurlak, said that weak DRAM pricing and oversupply combining with slowing PC sales are a bad mix for Micron. In addition, Kurlak says it's Micron electronics PC subsidiary is in trouble.
If history is any indication, its time for Micron CEO Steve Appleton to go crying to the government about Asian dumping. Oops. He beat me to the punch! Here's Appleton via Micron's earnings press release: "We are hopeful that the U.S. Department of Commerce will continue to monitor these ongoing trade violations and that Congress will view carefully the impact upon U. S. businesses of any further International Monetary Fund support of these practices." Good luck Stevie boy! Investors: Sell while you can.
Movers and Shakers
Intel was up 1 1/16 to 77 11/16, Microsoft dropped 5/16 to 82 1/16, Dell gained 3/8 to 63 9/16, and Ciena climbed 3 to 47 7/8 after signing a $100 million deal with Sprint.
Jim Evans is finance editor at UPSIDE.
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Another col called "Shitlists" mentioned Appleton a few times.
Amelio, Corrigan Make Our List
March 25, 1998
Welcome to the Glue Factory
Gil Amelio: You could've led a startup into the IPO stratosphere. But now you're just Danielle Steele writing trashy novels to get your jollies. Who'd hire you now?
Hanging by Dental Floss
Michael Cowpland ... A 2 1/16 stock price? Not that 14 points back in the day made you a big player, but come on. There's really no "cashing out" at that price, but how about saying "Uncle"?
Hope That Parachute Works
Steve Appleton: J.R. Simplot is going to cut you into a tater tot if you don't perk up Micron's performance and stop your whining.
Yawn-o-Rama
Wilfred Corrigan: LSI Logic was labeled a "great buy" at 46 by some traders long ago. LSI slalomed downhill to around 23, and now we're supposed to get excited with Monday's point upswing on a "system on a chip" technology announcement? Wake us when you're in the 50s.
Tish Williams is senior writer/editor at UPSIDE.
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