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To: DavidG who wrote (29154)	3/1/1998 8:40:00 PM
From: Anhua Luo	Respond to of 53903

FIRST CALL EARNINGS ESTIMATES MU Micron Technology, Inc. 02/23/98 Industry: Semiconductr SIC: 3674 Latest Price: $33.75 1998 P/E: - Analyst Recommendation: 2.6 QTR QTR FY FY Feb 98 May 98 Aug 98 Aug 99 --- --- -- -- CURRENT MEAN EPS -0.15 -0.06 -0.12 1.10 Number of Brokers 16 14 16 13 Median -0.13 -0.02 0.00 1.10 Standard Deviation 0.07 0.09 0.29 0.47 Current High -0.03 0.07 0.26 2.00 Current Low -0.29 -0.24 -0.68 0.39 Year Ago EPS 0.18A 0.44A 1.02A -0.12 Current vs. Year Ago Change -183% -114% -112% 1017% Report Date Mar 16 Jun 15 Sep 21 - EARNINGS ESTIMATE REVISION MOMENTUM Up Revisions last 7 days 0 0 0 0 Up Revisions last 30 days 1 1 0 1 Down Revisions last 7 days 1 1 1 0 Down Revisions last 30 days 4 2 3 2 EARNINGS ESTIMATES CONSENSUS TRENDS Current Mean -0.15 -0.06 -0.12 1.10 7-days ago Mean -0.15 -0.06 -0.11 1.10 30-days ago Mean -0.14 -0.05 -0.09 1.07 60-days ago Mean -0.12 -0.03 -0.04 1.15 90-days ago Mean 0.23 0.30 1.10 1.80 The trend looks not very good. This may be the reason why MU was so strong on Wed but quickly run out of gas on Fri. Does anyone know the detail explanation for these downgrades? Thansk A.L.

To: DavidG who wrote (29154)	3/1/1998 8:47:00 PM
From: Richard Russell	Read Replies (1) \| Respond to of 53903

Dg, Very good Dave. I beleive this is something very constructive.RR

To: DavidG who wrote (29154)	3/1/1998 9:53:00 PM
From: MR. PANAMA (I am a PLAYER)	Respond to of 53903

David...shit now I have a craving fer some pasta...Good to see you are drinking red wine...reduces chance of heart attack by 30-50 %. GRIM ... a wannabe chef

To: DavidG who wrote (29154)	3/2/1998 12:01:00 AM
From: mike iles	Read Replies (4) \| Respond to of 53903

DavidG bear: MU is not, repeat , not profitable at current prices. Unit cost of $3.00 approx. is wrong. Unit cost is a function of 2 variables. Last quarter, costs (excluding MUEI) were $415M and unit production was 90M of 16 Mbit-equivalent parts. Unit cost was approx. $4.60 ... ASP was $4.88 ... they eked out a small profit. Costs will be what this quarter, say $420M (contrary to popular opinion MU's costs go up, they make more chips, buy more equipment (not so much lately), hire more people ... e.g. 450 from MUEI) and unit volume will be up too. Say 15% which I expect to be generous. Gives you unit costs this quarter of $4.05 approx. This is not $3.00 or even close to it. bull: the ol' stock market just don't care [one day it may]. regards, Mike