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To: PaperChase who wrote (46624)	6/23/1999 5:49:00 PM
From: Skeeter Bug	Respond to of 53903

pc, sequential. sequential. pricing. inventory. production ramps in a glut. interest expenses. txn can't pay mu to take more fabs... i agree that this report probably won't send mu to fair value. it is a start. next q will be comparable to last years q2 - if not worse. remember, pc, this is a "recovery." i'd hate to see glut again. oh, and i don't think intel has another couple billion to send down the hole again... i'd be happy w/ $35. exstatic 2/ $30.

To: PaperChase who wrote (46624)	6/23/1999 6:01:00 PM
From: Knighty Tin	Read Replies (1) \| Respond to of 53903

PC, I assume you are joking. This was a total disaster. And prices are 20% worse today than they were at the end of May. MB

To: PaperChase who wrote (46624)	6/23/1999 6:03:00 PM
From: Michael Bakunin	Respond to of 53903

Inventories "passable"? Is that like a gentleman's C? <g> -mb

To: PaperChase who wrote (46624)	6/23/1999 11:07:00 PM
From: Patrick Hennessey	Read Replies (2) \| Respond to of 53903

PC, I have to agree with your assessment. I was rather impressed with the numbers today. I actually expected a lot worse. The number that caught my eye is the sales number 864 mil. vs 609 mil. I didn't expect but about 700 mil. Plus if they are holding all that inventory sales could have been higher. Considering how bad pricing has been this qrt. with some posts of sub $5 for 64Mb, where did those kind of sales numbers come from? Also they dramatically decreased the losses at the same time. Bears can say what they want, but if the last year is as bad as it gets, and I think it is, then MU's future may not be as bad as many here would like everyone to believe!! Pat