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

To: sam who wrote (29760)	9/17/1999 9:35:00 AM
From: JH	Read Replies (1) \| Respond to of 93625

MSDW conclusions: (dated September 17, 1999 by Mark Edelstone, John Cross, Louis Gerhardy, and Sonia Kimotsuki) - We expect yields and availability of Direct Rambus DRAMs to improve from current suppliers, and expect more Direct Rambus suppliers to come on line in the fourth quarter -Intel remains strongly committed to Direct Rambus technology, and we believe Direct Rambus DRAMs are imperative to eliminate the memory bandwidth bottleneck as the company converts its MPU line to 0.18 manufacturing. As Intel transitions all of its manufacturing to 0.18 micron by the end of next year, we expect the company to drive the low-end of its MPU line to 60-MHz and the high-end to 1GHz. - We are not changing our earnings estimates and would be an aggressive buyer of RMBS on weakness. We reiterate our Strong Buy rating and $150 stock price target. We remain confident that Rambus will offer significant long-term earnings power once the ramp issues are settled, and we continue to believe Rambus has the potential to earn $6-8 per share in the 2002/2003 timeframe