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Technology Stocks : Rambus (RMBS) - Eagle or Penguin -- Ignore unavailable to you. Want to Upgrade?

To: jackmore who wrote (27667)	8/25/1999 11:54:00 AM
From: unclewest	Read Replies (2) \| Respond to of 93625

micron ceo recently called rambus rdram the most exciting new product they ever had. we know they have shipped rdram samples. this analyst must have liked his... unclewest NEW YORK, Aug 25 (Reuters) - Gruntal & Co. said Wednesday it raised its 12-month price target for Micron Technology Inc. (NYSE:MU - news) to $150 from $70, and revised its fourth quarter and fiscal 1999, 2000 and 2001 earnings per share estimates. -- Shares of Micron were down 9/16 at 68-11/16 on the New York Stock Exchange. -- Gruntal revised EPS estimates for Q4 1999 to a loss of $0.15 from a loss of $0.24, and fiscal 1999 estimates to a loss of $0.36 from a loss of $0.45. -- Fiscal 2000 EPS estimates were raised to $2.50 from $1.45, and 2001 EPS esimates to $500 from $3.80. -- Gruntal said demand for PCs is entering into seasonally stronger period with more demand, and memory content per PC is rising after it stalled earlier in the year. Many of the major suppliers have expanded memory content with their low-end systems, with many of the sub-$1000 PCs are shipping with 64Mb requirements up from 32Mb. -- Gruntal said Micron continues to expand its market share, and expects it to rise to 23 percent from 20 percent through the balance of the year, while capturing the No. 1 position as the world's largest supplier of memory. -- Gruntal also expects Micron to be the lowest-cost producer. -- The $150 price target is attainable if the current price stability in memory continues to prevail.