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Technology Stocks : Micron Only Forum -- Ignore unavailable to you. Want to Upgrade?

To: TREND1 who wrote (48823)	9/30/1999 3:40:00 PM
From: nolimitz	Respond to of 53903

Who can you trust now a days Only your mom.

To: TREND1 who wrote (48823)	9/30/1999 4:05:00 PM
From: DJBEINO	Read Replies (2) \| Respond to of 53903

Micron Technology Shares Fall on Concern About PC Demand Boise, Idaho, Sept. 30 (Bloomberg) -- Micron Technology Inc.'s shares fell as much as 7.3 percent amid concern that weaker-than-expected demand for personal computers could cut sales at the biggest U.S. maker of computer memory chips. Micron fell 4 11/16 to 67 5/16 in late trading of 9.63 million shares, making it one of the most-active U.S. stocks. Earlier, the shares traded as low as 66 3/4. The stock has fallen 17 percent this week. Last week's Taiwan earthquake, which idled many of the world's biggest chip foundries and component factories, could crimp PC production in the fourth quarter, BancBoston Robertson Stephens analyst Dan Niles said in a report released today. That, combined with lower-than-expected demand, could hurt prices for dynamic random-access memory chips, or DRAMs. ''The Taiwan earthquake has made a tight DRAM supply situation worse,'' Niles wrote. Niles estimates that about two weeks worth of memory-chip production will be lost as a result of the quake. Spot market prices for 64-megabit DRAMs, the industry standard, climbed as high as $20.65 Monday from $4.55 July 1, according to American IC Exchange, a chip brokerage. Chip prices fell back to $19.54 today. ''DRAM prices have definitely backed off from prior levels,'' said Niles, who rates Micron ''long-term attractive.'' On Sept. 8, Boise, Idaho-based Micron warned investors that rising chip prices wouldn't boost its earnings for the fiscal quarter that ended Sept. 2 because much of its sales for the quarter was older inventory that cost more to make. In addition, company officials said most of its chips were selling at prices that were lower than the spot prices some analysts and chip brokers were quoting.