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

To: ild who wrote (53622)	3/24/2002 7:59:48 AM
From: cordob	Respond to of 53903

Did they ever suggest to sell MU? Good question, I don't know because I have a habit of selling a bit before the top if the profit is good. Will check when have the time, as Prudential very honestly leaves the older messages visible. Cheers Cor (they are the only ones that I know which are doing that, including guys like Hager)

To: ild who wrote (53622)	3/24/2002 3:51:21 PM
From: cordob	Read Replies (1) \| Respond to of 53903

Ild, as promised I checked the older reports, but they only go back to august28 last year unfortunately. From what I read below I have a feeling they may not have taken the buy off since 1999, but I cannot be sure. I sold before the $ 75 target was reached. I see a buy with target $ 36 at $ 22.30 on sept.26,2001. (not bad) We are revising our FY02 revenue and EPS estimates to $1.985 billion and $(1.10), from $4 billion and $0.15. We are also taking down our FY03 revenue and EPS estimates to $5 billion and $0.85. Our estimates do not include potential future inventory write downs, as this would add what tends to be a rather arbitrary element to the earnings model. We are modeling for blended ASPs in FY02 to be around $1.80 with YoY bit shipment growth in the mid-40% range versus our previous model of around $3.70 blended ASPs and YoY bit growth of 50%. .... We are also lowering our price target to $36 from $75 based on what we consider to be a reasonable 3 times book value, which assumes a more moderate cyclical recovery, rather than the more aggressive price to book valuations we have seen in recent up-cycles. Maintain Buy rating. These considerable reductions in revenue and eps are there. Cheers Cor