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To: DJBEINO who wrote (7225)	4/5/2000 1:38:00 PM
From: DJBEINO	Read Replies (1) \| Respond to of 9582

Inventory continues to decline globally as DRAM demand continues to pick up,' analyst Daniel Niles said. ``After seeing spot prices bottom at about $4.50 and inventories peak at about six weeks in mid-February, DRAM demand has rebounded sharply as memory per PC and PC unit demand has started to pick up. Spot pricing is now in the low $6s with inventories having declined to 3 to 4 weeks. Contract pricing has likewise increased from about $5 to $5.50 and is headed higher while costs ratchet down with 0.15u.' --``We believe that Micron may begin to supply DRAMs to a couple of the big Japanese DRAM manufacturers as many of them cut back production,' said Niles. ``As the Japanese try to reduce their exposure to DRAMs while increasing their exposure to other semiconductors, we believe it is likely that Micron may supply them parts which they in turn remark and sell as their own. We believe that Micron is now the largest producer of DRAMs in Japan through their JV.' --``We believe that a part shortage is inevitable by year-end,' Niles said. ``Given the decline in inventory in a generally slow seasonal time period, parts will probably get much tighter starting in July/August with the strengthening in PC demand.' --``Micron was $95 in 1995 with a 5 to 6 percent DRAM market share,' said Niles. ``They are now close to a 25 percent market share. We believe our year-end $200 price target is conservative.' biz.yahoo.com