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To: Judy who wrote (13970)	5/20/1998 2:11:00 PM
From: Doug Skrypek	Read Replies (1) \| Respond to of 17305

Judy or AV: While we are on the subject of IC mfrs, do either of you have an opinion on ATML. Down again today...

To: Judy who wrote (13970)	5/20/1998 3:35:00 PM
From: Andrew Vance	Respond to of 17305

AV--IF uncertainty rules the day pending the outcome of the MU earnings release, grab hold of your butt, and go to cash. I personally do not think MU has anything to be overly proud of at this stage of the game. They are probably better off than the Korean and Japanese but they will not be star performers relative to performance in years past. I say this with one exception. Given the present market situation, MU might look good relative to market expectations but compared to historical numbers it will be lackluster. I do not put much faith in beating the expectations that have been lowered considerably when compared to histircal numbers. MU earnings have been lowered dramatically over the course of the last 2 years and this must be given due consideration. They might make out better than their competition in the Pacific Rim but the DRAM situation is still in an overcapacity scenario. Ray of sunshine going forward: I think the pipeline inventory of DRAMs has diminshed over the course of the last few months. We are almost to a point where we could say we are in "JIT" (Just in Time) mode. Therefore, moving forward, any move in the correct direction might result in faster financial response for MU. MU is a solid DRAM company but I am not going to be convinced they are out of the woods until they decide to move forward on the Lehi, UT facility. Andrew