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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: Proud_Infidel who wrote (32468)	9/14/1999 11:31:00 AM
From: cluka	Read Replies (1) \| Respond to of 70976

Salomon Smith Barney Tuesday, September 14, 1999 ---------------------------------------------------------------- --SUMMARY:--Micron Technology--Semiconductors * Spot prices for 64Mbs continue to bottle rocket, with 64Mbs being quoted late yesterday at $15, up from $13 on Friday; there is of even talk of higher prices coming. * Vendors are beginning to predict contract prices, now in the $6.50-7.50 range, could move to $10, and higher, by year-end. * The shortage is brought about by an apparent acceleration of PC demand, difficulty in bringing up yields on new shrinks, and a general lack of new wafer starts in the last several years. * This all suggests the current shortage will extend beyond the Christmas season and well into 2000, all of which is positive for Micron Tech (MU, 1S). We reiterate our BUY rating on the stock with a price target of $120.