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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 690.27

+0.3%

4:00 PM EST

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To: Suresh who wrote (18746)	12/8/1998 11:31:00 PM
From: Clint E.	Read Replies (1) of 69205

Hi Suresh. >>>>>I see many bullish predictions by semi investors these days. I think I am in dark ages. Read this from your MF site. I got a big laugh out of this. Reminds of Aug 95 when I bot MU @ ~74, went to Germany for a couple of weeks on a business trip, and came back to sell it @ ~88. Easiest money I made that year. All thanks to TK. Kurlak was projecting $4-$5 eps a couple of years out....Why? Windows 95, of course. Any analyst who projects earnings into year 2001 for a commodity-based company is digging his/her own grave. Even corporate CEOs and CFOs are clueless as to what business conditions would be like by then. I guess this analyst thinks that MOT, TI, and Siemens decided to pull out because they no longer enjoyed the smell of money!!!! =================== Micron Technology (MU, $52.88) traded as high as $55.38, as the stock was upgraded to a "strong buy" by Piper Jaffray and expects MU to trade as high as $80-$90 within the next 12-months. They are encouraged by solid potential for MU to report substantially higher earnings based on the combined operation of MU's existing semiconductor business and the recently acquired business from Texas instruments. They expect MU to earn $6.0-$6.50 by the year 2001 on a projected P/E of 13-15 times estimated earnings. Piper Jaffray is encouraged to see MU make a significant technical breakthrough above $50 and expects improved industry fundamentals to support the stock. They increased MU's earnings estimate from $0.85 to $2.10 in fiscal 2000, as they expected conditions in the DRAM sector to improve steadily. Increased demand is expected to come from rapid growth of the Windows operating system and the Internet. However, they note that there are some risks of DRAM price pullback, as there are reports that Korean DRAM manufacturers are planning to increase production. Nonetheless, Piper Jaffray expects any pullback in DRAM prices to be temporary. DRAM prices have improved over the past several months for 64-meg parts, rising from $7.00 in July to $9.0-$9.50 at present. =========================== Clint

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