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To: Kathleen capps who wrote (30927)	3/20/1998 2:18:00 PM
From: Richard Russell	Read Replies (1) \| Respond to of 53903

Today's Commentary: 03/20/98 Memory prices continue to reach new lows while multiple industry reports (i.e. EBN, Data Quest etc.) suggest that a short term correction is not likely. Additionally, Hitachi's announcement (Reuters) to gradually exit the DRAM market place add it to a list of manufacturers rumored to be "exploring" the possibility of dropping DRAM from their product lines. TANKS FOR THE MEMORYS POS BODV You would think these guys should get it right. Hitachi said going out of 16 picking up on 64.

To: Kathleen capps who wrote (30927)	3/20/1998 10:48:00 PM
From: Ted The Technician	Read Replies (2) \| Respond to of 53903

Comments regarding MU's financial accounting I noticed that when MUEI sold 90% of its interest in MCMS for $249M cash, MUEI booked a gain of $156.2M and MU booked a gain of $157.1M. It seems as though both companies' incomes were positively impacted. Since the sum of the gains ($313.4M) exceeds the purchase price ($249M), there must have been some double counting of the gains. I suspect that as long as MU owns a majority of MUEI's stock, MU must reflect MUEI's financials 100% within the MU financials. If not 100%, how would one explain the fact that the sum of gains exceed the purchase price? Another observation is that sales at both MUEI and MU should drop about $71M each from 2Q to 3Q as a result of divesting MCMS since both income statements reflect the sales at MCMS. Yet another point, MU owns about $600M worth of MUEI stock. When added to MU's equity, MU's book value totals $13.5/shr. Does anyone know whether this logic is correct? or should I assume that MU's stated shareholders' equity already includes MUEI's shareholders' equity? Ted The Technician (not an accountant)