Texas Instruments - Good buy now or should we wait? Message Board

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Technology Stocks : Texas Instruments - Good buy now or should we wait?

TXN 160.31

+4.5%

2:33 PM EST

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To: robert w fain who wrote (3819)	6/20/1998 8:48:00 PM
From: Charlie Smith	Read Replies (3) of 6180

Bob: Depends on DRAM prices. If DRAM continues to implode, it will still taint TXN. I repeat, they are still in the business, but now as passive investors. No more management time running the business, so they can focus on DSP, but DRAM will still affect the stock. As I've been saying, management couldn't bring themselves to blow DRAM out at the bottom (or near it) because it's such a money maker when it works. If DRAM continues bad, the stock could go lower, including into the $40s. June earnings will be a mess to figure out, but will also give us all a very clear picture of just how bad it is in DRAM. Overall, I view the sale as a minor positive, mostly because it allows management to focus on DSP. The $750mm loan to MU for plant upgrades is a short term negative, but convertibility should be a long run plus. MU is a good management in what is right now a very crappy business. Hope all is well. Charlie

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