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Technology Stocks : Micron Only Forum -- Ignore unavailable to you. Want to Upgrade?

To: Chas who wrote (47760)	8/23/1999 9:24:00 AM
From: DJBEINO	Respond to of 53903

Micron Technology Shares May Be Overvalued, Barron's Reports Bloomberg News August 21, 1999, 1:00 p.m. PT New York, Aug. 21 (Bloomberg) -- Shares of Micron Technology Inc., the biggest U.S. maker of memory chips, could fall below 25 from its current price of about 65 as increased competition reduces prices for its product, short-seller Michael Katz of Reynard Asset Management, told Barron's in its ''Up & Down Wall Street'' column. Micron's dynamic random access memory chips face increased competition from chipmakers in Japan, Taiwan and Korea, which are rapidly boosting capacity. Katz said he likes the stock of Japanese conglomerate Hitachi Ltd., however, and thinks its U.S. American depositary receipts may double from its current price of about 100 as the company restructures and buys back shares, the paper reported. Short sellers are betting that the shares of a company will fall by selling borrowed stock which they hope to repurchase later at a lower price. (Barron's 8/23 5 www.barrons.com)