>>EW YORK, June 8 (Reuters) - Lehman Brothers said Monday it lowered its earnings estimates on shares of Micron Technology Inc. (MU -
news) due to weak computer memory chip pricing.
-- 1998 Q3 eps lowered to loss $0.70/shr from loss $0.50/shr; full-year 1998 lowered to loss $1.62/shr from loss $1.25/shr; 1999 lowered to loss
$1.35/shr from profit $0.10/shr.
-- Shares stood at 24-5/8, up 9/16.
Lehman said it still expects stabilization in DRAM pricing in September 1998 - March 1999 timeframe. But, unless memory-chip prices actually
move up, Micron's cost structure suggests losses for six months longer through fiscal 1999.<<
mike, first, 1998 was going to be a rebound year. next, the second half of 1998. now we are into march, 1999 with the caveat that pricing has to improve.
HO HO HO HO HO!
the analyst sugar daddies keep pushing it back 3-6 months at a time and the dopers keep wagging their tongues in glee. they have been so wrong for so long (1995 to present - over 3 years ;-) that only the most dimly lit bulls must have faith in them.
they did this with xlnx for 15 months. each q they would say "this wa a disappointment, but wait until next q." 15 months the dolts blieved. they hated me for mentioning that xlnx was a no growth company. they also took a big fat haircut ;-)
those june 25 puts are looking kinda juicy if we go much higher before the lps report ;-) now kiddies, remember to multiply these losses by 150% if mu can afford txn's business (psssst, they can't without MASSIVE share dillution - and txn doesn't want to own mu stock).
this appears to be just hype, if you ask me - and i'm very right on 2 things. mu's hype and their fumblementals.
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