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

To: TREND1 who wrote (41020)	11/23/1998 2:30:00 PM
From: DJBEINO	Respond to of 53903

Micron ''no comment'' on rumored rise in chip prices By Daniel Bases NEW YORK (Reuters) - Stock in Micron Technology Inc. was sharply higher Monday, moving on what traders said was a rumor that the maker of computer memory chips would raise prices for its products toward the end of this week. ''We have heard the rumors and I have handled calls on it already this morning, however we have a policy of not commenting on rumors,'' said Micron investor relations officer Bob Clark. Micron's (NYSE: MU - news) stock was trading up $3.25 to $46.25 in late morning New York Stock Exchange trading. The stock was among the most active on the exchange with roughly 2.2 million shares changing hands so far. ''I'm searching around myself to see if there is anything being said in the industry, but haven't found anything yet,'' he added. The semiconductor industry has enjoyed a recent rally while DRAM, or Dynamic Random Access Memory chip, prices in the spot market have held steady, one analyst noted. ''Things are looking healthier, with the 64-megabyte chips selling for roughly $10 and 16-megabyte chip prices actually rising,'' as the industry shifts away production toward higher capacity memory chips said Bruce Walicek, semiconductor analyst with Gruntal & Co. in San Francisco. ''I think Intel's strength is also helping lift the entire industry, and there looks like there is more generally good news going forward,'' Walicek said. Intel recently said it sees sales for the first half of 1999 stronger than expected The memory chip business has suffered in recent years from overcapacity in production. But analysts note that production levels have fallen and inventory levels, though still not low enough, are coming down. Clark said Micron will report fiscal fourth quarter earnings, tentatively on Dec. 22 or 23. dailynews.yahoo.com