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

To: Knighty Tin who wrote (40490)	10/29/1998 3:07:00 PM
From: DJBEINO	Read Replies (1) \| Respond to of 53903

Micron stock up, positive comments cited NEW YORK, Oct 29 (Reuters) - Shares of Micron Technology Inc. (NYSE:MU - news) hit a new year high on Thursday after an official told an investor conference Wednesday the computer memory chip maker expects pricing for its products to remain firm through the holiday season's personal computer building boom. Traders cited the comments for a jump in Micron's share price of more than 10 percent on Thursday to $39-1/4, up 3-11/16 by mid-afternoon. Micron was the second most active New York Stock Exchange issue with volume of 7.5 million shares. Micron official Kipp Bedard spoke before SG Cowen's annual electronics conference underway this week in La Quinta, Calif. In his remarks, outlined by a Micron spokeswoman on Thursday, Bedard told investors that Micron, the top U.S. maker of computer memory chips, expected prices PC makers paid Micron for memory products to remain firm through the Christmas PC manufacturing rush. Julie Nash, the spokeswoman, noted this is typically the strongest sales season for its products, including the 64-megabyte memory chip that is now standard in most new PCs. Referring to prices, Nash said, ''They have been stable to having an upward trend over the last six weeks.'' The upturn in pricing represents a marked turnaround from the situation for the last three years, since late 1995, when pricing has plunged more than 95 percent for Micron's key products, and depressed the value of Micron shares. Micron does not have enough data to characterize the pricing situation beyond the holiday cycle, she said. Micron's first fiscal quarter closes in early November. Shares of several other chip companies were also higher on Thursday. Texas Instruments Inc (NYSE:TXN - news) rose 2-1/2 to 63-1/2 after Prudential Securities started coverage of the company with an accumulate rating. Advanced Micro Devices Inc (NYSE:AMD - news) was up 7/8 to 19-11/16, on volume of 4.5 million shares. biz.yahoo.com