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To: Kathleen capps who wrote (38087)	9/3/1998 12:53:00 PM
From: yousef hashmi	Respond to of 53903

DOW JONES 90-DAY NEWS/RETRIEVAL Int'l News & Research Services Sequence Number : 3957 Story Date : 98/09/03 1 12:28*T =Tech Stks -2: Intel, Micron Buck Semiconductor Trend >INTC As the lunch hour approached, the Nasdaq Computer Index was down 6.26 points to 760, followed by a 6.02-point drop in the Morgan Stanley Hi-Tech 35, which was trading at 514.80. "Every time the market sneezes, (tech stocks) catch a cold," said Michael Geran, an analyst for the Pershing division of Donaldson Lufkin & Jenrette Securities Corp. "The market opened weak because of the international situation. The reaction of day traders is to avoid these stocks." Internet stocks, whose performance have to a large degree followed the market's topsy-turvy whims lately, appeared to be hit the hardest, with some companies losing as much as 7% of their value in the first hour of trading. Web bellwether Yahoo3 Inc. (YHOO) was trading at 75 1/4, down 2 1/2, or 3.2%, while Doubleclick Inc. (DCLK), a Web advertising firm, fell 1 7/16, or 5.6%, to 24 3/8. Book retailer Amazon.com Inc. (AMZN) fell 1, or 1.1%, to 86 7/8. "Largely, they are the tail being wagged by the dog," said Derek Brown, an analyst with Volpe Brown & Whelan Co. "To a large degree, Internet stocks' performance have followed the market up or down." Also continuing a downward slide was the Philadelphia Exchange's Semiconductor Index, which was down Thursday 38% from the year high of 330.6 recorded in February. The index was trading at 203.18, down less than one point. Nevertheless, semiconductor giant Intel was trading up 3 3/8, or 4.5%, to 78 1/4, a move attributed to Morgan Stanley Dean Witter's upping its earnings forecast and the overall improvement among PC manufacturers. On the other hand. Micron's uptick in late morning trading was credited to the dwindling fortunes of Japanese and Korean DRAM makers. The shares were recently up 1 11/16, or 7%, to 25 5/8. "It will ultimately make Micron very profitable," Wu, of ABN AMRO, said. (MORE) DOW JONES NEWS 09-03-98 12:28 PM

To: Kathleen capps who wrote (38087)	9/3/1998 1:05:00 PM
From: Thomas G. Busillo	Read Replies (1) \| Respond to of 53903

Kathleen, it happens to everyone. The similarities between last year's price action around the Robbie Stephens (ssshh...don't tell anyone, but they have been one of MU's underwriters) conference and this year's is somewhat curious. Here's an updated version of the previous observation made a few weeks ago (https://www.siliconinvestor.com/readmsg.aspx?msgid=5427601) MU late-July/August/Sept 1997 1998 conference Robbie Stephens Robbie Stephens Message: Demand is up; Demand is up; prices are up. prices are up. pre-conf. price: 45 27 Dow Jones article featuring Dan Niles talking about strength in DRAMs?: yes yes post-conf. peak: 60 36 7/16 percentage change: +33% +34.9% unexpected event: industrial-strength Kurlaking Russia unravelling Niles reaction?: reiteration ups to Strong Buy Sept. monthly low: 34 3/8 20 9/16 % change from peak: -42.7% -32.4% % from pre-conf. level: -23.6% -23.8% That's a little too freaky! Good trading, Tom