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To: mike iles who wrote (24922)	12/9/1997 10:05:00 AM
From: mike iles	Read Replies (7) \| Respond to of 53903

To all, Hot flash!!!!! ... no, it's not a mid-life crisis ... Dan Niles reduces estimates again (the old two-step, just like last quarter) and is now looking for Q1 EPS of .06 versus his previous estimate of .14. There seems to be a growing concensus in the nickel area (management guidance?) ... and Skeeter Bug remains the high estimate on the Street. Unlike Skeeter, Niles is an unreformed bull and continues with a BUY recommendation. His reasoning is that the economic problems in Korea will lead to a cutback in their DRAM expansion in '98. His estimate for semi revenue is $404M in Q1, dropping to $359M in Q2 (my guesses are $$385M and $321M respectively) and then moving back up to $412M in Q3 and $475M in Q4. Earnings are .06 in Q1, a loss of .10 in Q2 (to give him credit he's the first analyst I've seen [but I haven't seen many] forecasting a loss for the big MU), breakeven in Q3 and a 14 cent profit in Q4. His estimate for the year is 10 cents!!, reduced from a previous estimate of $1.10 (actually he just pushed the '1' key too hard back in Nov.) ... and of course he's still got a BUY on the stock... holy jumpin'!!!!!! regards, Mike