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Technology Stocks : Micron Only Forum
MU 230.24+2.5%Nov 26 3:59 PM EST

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To: Peter Dierks who wrote (44847)4/6/1999 12:39:00 AM
From: Tim McCormick  Read Replies (1) of 53903
 
Peter, this would all be relevant except that MU is not depreciating Lehi because they interpret it as not being used. Thus, they have been overstating their earnings if you believe it should be depreciated. They have also deferred payment on sub. debentures and have not been accreting the interest. They value inventory at cost instead of quarter end value, and this inventory grows ever larger. Mu's income statement is a work of fiction. Tim
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