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Technology Stocks : Micron Only Forum -- Ignore unavailable to you. Want to Upgrade?

To: Scooter who wrote (30335)	3/16/1998 6:13:00 PM
From: William Wang	Respond to of 53903

Micron Technology (MU) shares are prepared to topple Tuesday after the memory chip maker posted a wider-than-expected second-quarter loss of 41 cents a share. The Street's consensus forecast was a loss of 17 cents a share. Excluding an 18-cent gain for the sale of one of its businesses, the loss comes to 23 cents a share vs. a year-ago profit of 68 cents. Revenue at the Boise, Idaho, company decreased to $755.4 million from $876.2 million in the second-quarter of 1997. Micron said its memory chip sales plunged to $283 million from $440 million in the first quarter of 1998, plagued by "dumping" by its Asian competitors. Shares closed up 3/4 at 33 3/4 ahead of the report. Micron Electronics (MUEI), a subsidiary of Micron Technology, also reported second-quarter results after the market closed. The direct-sales computer manufacturer posted a profit of 26 cents a share, including a loss from its PC operations and a gain on the sale of its custom manufacturing services business. Analysts surveyed by Zacks Investment Research expected a loss of 5 cents a share. Micron didn't respond to requests for per-share figures excluding extraordinary items. Sales fell 3 percent from year-ago levels to $494.8 million. Ahead of the report, the stock closed up 1/16 at 11 13/16 ahead of the report.

To: Scooter who wrote (30335)	3/16/1998 6:15:00 PM
From: jtechkid	Read Replies (2) \| Respond to of 53903

wang where is that article from or is it from you. i do not see know reason for the stock to go to 40. second, finacially if they have 2-3 quarters like this its going to start really hurting. third, if your fidelity or capital research -both own over 20 million shares you are definately a little worried and for pr sake you do not want a disater on your hands. merril lynch did a stidy with major institions and asked them the number one criteria for buying and selling stocks was earning revisions and company meeting or making the street estimates . . if i'm a fund manager and own 3 million shares i'm selling this badboy as quick as i can. the question i have is who has and who is doing all the buying. is this thing getting or trying to be manipulated to squeze the shorts.