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Technology Stocks : Semi Equipment Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Donald Wennerstrom who wrote (39718)	7/29/2008 11:55:35 AM
From: Donald Wennerstrom	Read Replies (1) \| Respond to of 95622

Micron stock hits 15-year low Analyst attributes the declineto general concern about market for memory chips. idahostatesman.com The Associated Press - Idaho Statesman Edition Date: 07/29/08 Shares of Micron Technology Inc. tumbled to a 15-year low Monday amid investor concerns over the health of the memory chip market. The Boise company saw its stock fall 42 cents, or 8.5 percent, to $4.55 - the stock's lowest level since 1993. Shares are down about 30 percent since the beginning of the year. Micron makes dynamic random-access chips, the most common type of memory used in personal computers; and NAND (not-and) flash chips, which retain data when turned off. Flash chips are found in iPods, digital cameras and other portable devices. Micron did not announce any notable news, but investors have been worried about the health of the memory chip market. Last week, SanDisk Corp. posted a surprise second-quarter loss and announced plans to cut capital expenses and inventory growth by delaying investments in certain chip factories. And Hynix Semiconductor Inc., the world's second-largest memory chip manufacturer - based in South Korea - said Thursday it will close its only U.S. factory in Eugene, Ore., partly due to the struggling industry. Investors are concerned about consolidation in the memory chip industry, said American Technology Research analyst Doug Freedman, but added that Micron's balance sheet is in a better shape than the rest of the industry; so Micron is seen as an acquirer - not an acquiree - as the sector consolidates. Germany's Qimonda AG has also been struggling, but Qimonda's U.S. traded shares dropped only a penny, to $1.88 on Monday. That might be because investors think the stock is close to a price considered attractive to potential buyers. Qimonda's shares are down nearly 74 percent since the beginning of the year. Infineon Technologies AG, which owns the majority of Qimondo, last week posted a fiscal third-quarter loss largely due to a 411-million-euro ($649.3 million) writedown of its 77.5 percent stake in Qimonda. Micron told shareholders last month that it is well-positioned for a rebound in the DRAM and flash markets. The company reported a $236 million loss for the quarter that ended May 29. It laid off about 1,100 workers last year. But sales have been rising, and Micron has said its cost-cutting efforts will help it survive the brutally cyclical computer-memory market.