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

To: Czechsinthemail who wrote (51747)	9/6/2000 3:12:35 PM
From: oldirtybastard	Read Replies (1) \| Respond to of 53903

I think the DLJ thing is somewhat of a red herring, certainly a catalyst, yet many were looking for just such an excuse to sell, no? How confident were those holding this stock in their investment and diligent in their research? I guess the 8 point gap down answers that. Beware of risky investments.

To: Czechsinthemail who wrote (51747)	9/7/2000 9:24:07 AM
From: Glen2	Read Replies (1) \| Respond to of 53903

Several analysts will soon come to the rescue of Micron, after the downgrade yesterday from DLJ. Here's the first that I've seen, from Bear Stearns: Micron Technology (MU) - DRAM Fundamentals Appear Sound, Raise estimates - Reiterate Buy Charles F. Boucher (415) 772-2953, Brian Wu · MU and semi group have been under pressure due to concerns over slowing PC demand and the possibility of DRAM inventory liquidation pressuring contract pricing. · We believe contract pricing is stable, and strong demand for DRAM will likely cause prices to remain firm. Additionally, we believe recent spot market price declines are a poor indicator of the overall DRAM market, since tight availability of product has limited spot market activity to very low levels. · We are raising est's on MU for the August qtr from $0.80 to $0.92 (FC $0.90), for FY01 from $5.45 to $5.60, and for FY02 from $5.80 to $6.05. We think overall industry and DRAM fundamentals are very much intact, and the recent sell-off in the stocks will turn out to be another buying oppy. · We reit our Buy rating and our $140 12-month target price.