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

To: James Fulop who wrote (27712)	8/26/1999 8:30:00 AM
From: unclewest	Read Replies (1) \| Respond to of 93625

Merrill upgrades MU... wonder what is behind that...and if it means anything for RMBS.... mu caught an upgrade yesterday too. in june mu ceo called rambus rdram the most important and exciting new product they ever had. probably just had an analyst meeting. cannot imagine they are getting upgrades because they are increasing sdram production and sales. :o) unclewest i will call my merrill contact later and ask about it.

To: James Fulop who wrote (27712)	8/26/1999 11:57:00 AM
From: Zeev Hed	Read Replies (3) \| Respond to of 93625

James, behind the upgrades of MU is the "Scenario" which I have described in detail quite sometime ago (when MU was under $40). INTC and TXN have debentures convertible to stock at around $67 per share, but, if the stock trade for 20 out of 30 consecutive days above about $87 or so, MU can force the conversion of the debenture to stock, drastically improving their balance sheet and reducing their heavy interest load. The street will make it happen, and that is the "Scenario". Zeev