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Technology Stocks : Micron Only Forum

MU 236.50

+2.7%

12:59 PM EST

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To: yard_man who wrote (40485)	10/29/1998 2:18:00 PM
From: yousef hashmi	Read Replies (2) of 53903

DOW JONES 90-DAY NEWS/RETRIEVAL Int'l News & Research Services Sequence Number : 4972 Story Date : 98/10/29 1 14:12 T =Micron -2-: Co. Spoke At Conference Weds >MU NEW YORK (Dow Jones)--Micron Technology Inc. (MU) shares continued to rise Thursday, a day after company officials spoke at an SG Cowen & Co. conference. Company officials told attendees that prices for so-called DRAM chips -- Micron's staple product -- looked firm as PC makers build machines for the Christmas season, said Julie Nash, a spokeswoman for the chip maker. The Christmas build season is typically the strongest for memory chip makers. DRAM prices have stabilized over the last few months after a two-year freefall caused by a worldwide oversupply. Micron officials said at the conference that the next crucial indicator for the DRAM market will come after the Christmas season, Nash said. Two Micron analysts attributed Micron's two-day rise to comments at the Cowen conference. But Drew Peck, a Cowen semiconductor analyst, was attending the conference and couldn't be reached for comment. Some companies have cut back on DRAM production or gotten out of the memory chip business altogether, which industry officials hope will eventually bring supply back into balance with demand. Micron recently bought Texas Instruments Inc.'s (TXN) remaining DRAM business. And Intel Corp. (INTC) recently invested $500 million in Micron to ensure that the company will keep investing in the next generation of memory chip technology. Micron shares were recently up 3 9/16, or 10%, to 39 3/16. Volume was heavy at 8.3 million shares, compared with average daily volume of 4.5 million shares. Micron stock rose 7% Wednesday after the comments. Christopher Grimes (201) 938-5253 (END) DOW JONES NEWS 10-29-98 02:12 PM

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