I didn't get greedy. I will get back in after it cools, or after it splits on 1/11. Check it out then.
LT: more for you:
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MICRON TECHNOLOGY INC. (MU) 51 3/8 +4 1/2. This major memory chip maker is getting a major lift from a positive report by BancBoston Robertson Stephens that has placed a three-year price target of $200 on the stock. Seems rather optimistic since Micron has struggled for the past couple of years and only recently have conditions in the semiconductor sector improved somewhat to allow the stock to break-out from the $25-$35 range. Still, the news is being greeted very constructively by investors as the health of the DRAM chip market has been severely tested, especially after Asia went into the tank last year, and created major ripples in the demand picture for semiconductors. Yet, with Micron scheduled to report its Q1 results next week, today's price gains may be tempered what is expected to be another money losing quarter. According to First Call, MU is projected to have lost $0.30 in the period ended in November, compared with a measly profit of $0.04 in the year-ago period. A loss in Q1 would follow last quarter's loss of $0.42 a share, which means that the company is only making a marginal improvement on how much money it is losing. In fact, at present, Micron is projected to lose $0.17 in the fiscal year ending next August, and not record an annual profit of $2.04 per share until the year 2000. Seems like a long time to wait for this chip maker to again be the go-go stock it used to be. However, today's positive view and price target established by Robertson Stephens is making investors forget that this forecast is for three years down the line, and everyone knows that even one year in the semiconductor sector is quite a long time.
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