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Technology Stocks : Micron Only Forum

MU 240.46

+1.7%

3:59 PM EST

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To: DJBEINO who wrote (35636)	6/24/1998 2:14:00 AM
From: John Graybill	Read Replies (1) of 53903

>>On a relative valuation basis, MU is at a low, trading at 0.93 times price to sales Not so fast there, Monty! "Micron" is "Micron Semiconductor" and 64% of MUEI. MUEI was more than half of MU's reported sales this past quarter (HOW DOES THAT ACCOUNTING WORK!?) but nowhere near half of MU in market cap. (64% of 95M shares * $11/share = $670M, compared to total MU valuation of 210M shares * $24/share = $5.04B.) That's about 13%.) Knock out MUEI's (major) contribution to the sales and knock out its (minor) contribution to the price and that price-to-sales figure is gonna go way up.

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