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

To: Zeev Hed who wrote (50726)	3/13/2000 11:50:00 AM
From: DJBEINO	Read Replies (1) \| Respond to of 53903

13-Mar-00 11:41:54 Shares of Micron Technology are bucking the broader market trend, rallying to a new all-time high while the rest of the technology sector remains steeped in red. MU traded as high as $114 3/4, before pulling back slightly to trade at $114 3/16 with a gain of $7 13/16. The jump brings MU's month-to-date performance to 29% while its year-to-date gain totals 46%. While Smart Money investors are largely absent from the tech sector this morning, Micron has attracted a solid institutional following. Block trades account for just under 40% of today's trading volume, which has swelled to 2.7 million shares. The surge in price comes amid improving investor sentiment regarding the semiconductor sector with many analysts noting that strong demand will increase profitability for chip makers. Taking a look at I-Watch, pre-trade data is relatively light with a few profit-takers advertising to sell blocks at these record levels. Momentum appears to be the key driver this morning with aggressive growth oriented institutional investors putting money to work in the stock.