To: Steve Robinett who wrote (50849 ) 3/17/2000 8:08:00 PM From: Zeev Hed Read Replies (2) | Respond to
Steve, at least, according to the scenario, the current run up is "engineered" to assure conversion. There many good reasons why such a conversion would be beneficial to MU, improvement in the balance sheet, readying same balance sheet to take on additional debt (to complete Lehi and complete upgrades), to launch RDRAM, etc. The engineers of that rally have a lot to gain from this rise as well, first, if MU will indeed go back to the well for let say a billion or two, they have a solid $50 to 100 MM at stake as underwriting fees. The downside for the stock is that engineered runs rarely last much longer than necessary, and unless someone can make a case for MU earning $10/share in the next two three years, the stock will no longer have this engineered support and fall of its own weight.
