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To: SKIP PAUL who wrote (26209)	1/3/1998 12:48:00 PM
From: Thomas G. Busillo	Respond to of 53903

SP, part of it might just be a lot of cash being deployed after the 1st of the year in stocks that had been beaten down. Maybe part of the thinking prior to the end of the year was "why buy anything that looks like it could succumb to tax-loss selling, when I could just hang out and wait..." The disk-drive group probably is the best example of this, but maybe a little of that thinking crossed over into MU. As to the "why" behind the Goldman rec....no comment <g> However, one could argue that one of the effects of the rec. was to mute some of the end-of-year selling. Goldman was lead underwriter on the converts mid-June. Stock price was around 40-41. Now when they initiate MU coverage (and let's remember, they had dropped coverage of MU after they sold the paper and I'm thinking they dropped coverage sometime around 4th of July weekend) MU's only 18 or so points lower. Also, I was under the impression that the first coupon payment on the converts was due on the first of the year. And in my rather "warped" view of analysts, someone like Bill Milton at Brown, Brothers Harriman raising MU from avoid to hold means a lot more in my book than the lead underwriter of the converts suddenly reappearing on the scene at the end of the year. Good trading, Tom