Tad, you're No.1 on my "All-Diogenes Team" <g>
That was outstanding!
The media's out of control.
Howard Gold should be ashamed of himself for letting that piece run.
Hazan/Unterberg repeating the 20% market share nonsense borders on being insulting. Even if you adjust for bits produced, as you did, they weren't even close to that last quarter.
A piece in TSC yesterday contained some interesting "facts" re: last quarter's gross margins:
Thanks to increased production and higher sales volume, Hemmelgarn estimated, Micron's gross margins will increase to 35% to 40% this quarter from 11% last quarter.
MU's gross margin for memory chips: 9% last quarter. Considering that gross margins for PC systems and overall gross margins were 15% and 14.6%, respectively, I'm hard pressed to see where "11%" is coming from.
From CBS MArketwatch yesterday:
Kudos, on the other hand, to companies like Micron Technology (MU) and Excite (XCIT), whose chief executives decided it was worth their while to talk to investors.
Cisco Systems didn't return a call explaining its decision, though Micron spokeswoman Julie Nash was more than happy to tell why it sent Chairman and Chief Executive Steven Appleton: "Mr. Appleton likes to keep in touch with the analyst community," she said.
It would be nice if more companies' top-tier executives felt the same way. And it would be great if, on top of that, they could review their businesses once every month or two, rather than every week.
Those two efforts would help give shareholders more insight into their investments -- and would make banks and companies look much less clueless.
Gee, since we're suggesting things that "would help give shareholders more insight into their investments" how about these two minor items:
1) Next time, use the right revenue number for your main product area in your earnings release.
2) When total megabit shipments fall 10% and you have "the analyst community" on a conference call, tell them that instead of sticking it in a 10-Q weeks later.
Best Regards,
Tom
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