Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Texas Instruments - Good buy now or should we wait? -- Ignore unavailable to you. Want to Upgrade?

To: SteveG who wrote (2755)	1/8/1998 10:01:00 PM
From: SteveG	Read Replies (2) \| Respond to of 6180

<A> Micron Tech Up 7%; Reports Of DRAM Chip Price Rise Cited By Christopher Grimes NEW YORK (Dow Jones)--Micron Technology Inc. (MU) shares closed up 7.1% Thursday on reports that prices for memory chips have gone up for the first time in about six months. While analysts were hesitant to call this a trend, some investors may be gambling that the commodity-like chip prices have finally hit bottom, said a person who has been monitoring the DRAM market for an investment bank, who declined to be identified. According to a note by Lehman Brothers Inc. analyst Michael Gumport, prices for 16 megabit DRAM chips rose 5% Wednesday, while other types of chips rose as much as 15%. "This is the biggest (only) price uptick we have seen in six months," the note said. But it went on to say, "We are still not fully persuaded that this uptick represents more than a temporary bounce from post-Christmas distress prices." The price increases would bring the chips up to levels they had reached only a month ago, the bank monitor said. There are a couple of stories floating around as explanations for the rise in prices. One is that South Korean manufacturers are having trouble shipping DRAMs because of financing problems with some suppliers, the monitor said. Shares of Micron Technology, the largest American manufacturer of DRAMs, have risen lately, despite the company's missing first-quarter profit expectations in December. The stock hit a 52-week low of 20 on Dec. 15, the trading day before it said it missed Wall Street earnings expectations by 3 cents a share. Its shares rose Thursday 1 7/8, or 7.1%, to 28 3/8 on very heavy volume of 8.9 million shares, compared with average daily volume of 3.8 million shares.