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Technology Stocks : Rambus (RMBS) - Eagle or Penguin -- Ignore unavailable to you. Want to Upgrade?

To: Boplicity who wrote (4803)	6/22/1998 11:07:00 PM
From: MileHigh	Respond to of 93625

More news.... Rambus Shares Soar As Semiconductor Makers Test Company Products Dow Jones Online News, Monday, June 22, 1998 at 17:49 NEW YORK -(Dow Jones)- Rambus Inc. shares gained 20% Monday on news that Intel Corp. and LG Semicon Co. have begun testing Direct Rambus DRAM devices. The stock (RMBS) closed at $46.50, up $7.688, on Nasdaq volume of 2.4 million shares, compared with a daily average of 507,000. While this announcement is not particularly new, both a Rambus executive and an analyst said it shows that many PC makers are likely to use Rambus-enabled memory for the next several years. The announcement that everything is working according to plan also sent short sellers running for cover, which drove the shares up, they said. In the news release, Rambus added that Dell Computer Corp. (DELL) and Compaq Computer Corp. (CPQ) confirmed their intention of shipping PCs using Direct Rambus technology for main memory in 1999. The news "underscores the fact that Rambus-enabled memory will be the memory of choice for desktop PCs by late 1999, early 2000," said Dain Rauscher Inc. analyst Raj Gollamudi. "The other reason (for the stock's runup) is the short interest" decided to cover its positions. Whatever the case, Gollamudi was bullish on the company. "The fact that Intel (INTC) is behind them is a huge positive," he said. Rambus Chief Financial Officer Gary Harmon said the news is a vote of confidence for his company's memory technology. "This confirms what we are saying since Intel has adopted Rambus products for their main memory," he said. "Fifteen of the top DRAM suppliers have licensed this technology (and) the first two of these have now developed silicon devices that are based on this technology." Rambus designs, licenses, and markets chip-to-chip interface technology for use in consumer electronics, computer systems and other electronic systems. -By Victor Ozols; 201-938-5394 Copyright (c) 1998 Dow Jones & Company, Inc. All Rights Reserved.