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To: H.Jablomey who wrote (27739)	2/4/1998 12:19:00 AM
From: Skeeter Bug	Read Replies (1) \| Respond to of 53903

sam, yes it is possible. i actually think we all see the same things but reach different conclusions. mu is definitely a kick butt mftr. this is, of course, a good thing, but i think it takes a distant 2nd place to the macroeconomics that are in place. others disagree. i remember mu saying they had planned expenditures of $1.5 billion before the floor on pricing collapsed (much worse than i ever thought it would). that is where the $7.50 per share came from. now, that was mu's plan. why? because they thought they ahd a need - and i don't believe mu spends money unwisely. of course, they have cut back a little. but not as much as some believe, perhaps. remember, depreciation and amortization will average $30 million more per q for the next 3 qs. why? they spent some big bucks. it will be an interesting horse race, indeed. it may pan out that everyone sells at or near cost for a long time. txn and all of korea's competitors see the same thing mu investors see. when you see the money rolling in then you invest in more supply. this euphoria, imho, is a bad thing for mu's long term future. the stock has been sky high in front of crappy business prospects. i believe the stock will be deep in the well ahead of good business prospects. otherwise, supply keeps marching on. just ponder how much bit supply will increase when 64 mb transfromation is made. 200-250%? that alone - assuming no more supply comes on stream - is enough to keep mu near breakeven for several more years. jmo. good luck. btw, buying straddles may be a good way to play mu. you never know where it is going, but when it moves it move BIG! ;-)