To: TREND1 who wrote (47761 ) 8/23/1999 9:14:00 PM From: Thomas G. Busillo Read Replies (1) | Respond to of 53903
Larry, don't know if this is what you were talking about, but Chuck Boucher apparently jumped from DLJ to Bear Stearns and started the chip group. Hung a neutral on MU. Micron Technology Rated New 'Neutral' at Bear Stearns Bloomberg News August 23, 1999, 1:26 p.m. PT Princeton, New Jersey, Aug. 23 (Bloomberg Data) -- Micron Technology Inc. (MU US) was rated ''neutral'' in new coverage by analyst Charles F. Boucher at Bear, Stearns & Co. news.com Maybe that explains part of the last hour and a half. David Wu is in the lead of this month's "reiteration sweepstakes".8/23/99 Abn Amro reiterates buy, target $85, based on firming contract and spot prices... 8/6/99 Abn Amro reiterates buy, target $70, we anticipate further raise of DRAM prices driven by strong OEM demand... 7/28/99 Abn Amro reiterates buy, target $70, LT target $100 7/23/99 Abn Amro reiterates buy, 6 - 12 month price target of $70 7/19/99 Abn Amro reiterates buy, raised target $60 to $70 nordby.com The only problem with the above is:Micron Technology Inc. Reiterated 'Strong Buy' at ABN Amro Bloomberg News August 23, 1999, 5:33 a.m. PT Princeton, New Jersey, Aug. 23 (Bloomberg Data) -- Micron Technology Inc. (MU US) was reiterated ''strong buy'' by analyst David Wu at ABN Amro. The 6 to 12-month target price is $ 85 per share. news.com ANDMicron Technology Inc. Reiterated 'Buy' at ABN Amro Bloomberg News August 6, 1999, 5:55 a.m. PT Princeton, New Jersey, Aug. 6 (Bloomberg Data) -- Micron Technology Inc. (MU US) was reiterated ''buy'' by analyst David Wu at ABN Amro. The 6 to 12-month target price is $ 70 per share. news.com So when did he raise it to a "strong buy"? 26 trading days 7/19-8/23; 5 reits = 1 ABN Ambro retieration every 5.2 trading days. At this point, I think the next step is cutting an EP, making a video, and getting it into heavy rotation on MTV. Maybe something like [warning: satire ahead]:Yo, yo, yo Word, up, I'm David Wu ABN Ambro is my crew Now I'm not Dutch But in the clutch I'll pump this [rhymes with trucker] Like a bunny in the hutch I'm David Wu I like MU I'm David Wu I like MU I'm David Wu I like MU I'm David Wu I like MU... (Spoken) Yo, homey, pick me up a forty of St. Ides, Some blunts, And 50,000 shares of my favorite securit-TAY... Something like that. For the visuals, you definitely have to work in somewhere: 1) him chillin' in a hot tub with a bunch of Dutch babes; 2) him poppin' a cap in the ass of some guy dressed up to sort of resemble Fleck [of course, then Fleck comes out with his own record dissing Wu...but the sound is more like Limp Bizkit...only good]; 3) random shots of sheep running back and forth (the financial press); 4) some vague subplot involving Wu (outfitted in LA Kings gear) piloting a submarine - just because subs are cool. This could work! Good trading, Tom Disclaimer: the above is not intended to imply that David Wu imbibes malt liquor, smokes blunts, or is licensed to pilot a submarine <g>