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

To: Carl R. who wrote (41097)	11/27/1998 5:48:00 PM
From: Carl Held	Read Replies (1) \| Respond to of 53903

Issuing stock...what will that do to earnings? Intel deal: 15.8 Million shares Texas Instr: 28.9 Million shares NOTICE OF 1998 ANNUAL MEETING OF SHAREHOLDERS JANUARY 14, 1999 To the Shareholders: Notice Is Hereby Given that the 1998 Annual Meeting of Shareholders of Micron Technology, Inc., a Delaware corporation (the "Company"), will be held on January 14, 1999, at 9:00 a.m., Mountain Standard Time, at the BOISE CENTRE ON THE GROVE, 850 W. FRONT STREET, BOISE, IDAHO 83702, for the following purposes: 1. To elect directors to serve for the ensuing year and until their successors are elected and qualified. 2. To approve an amendment to the Company's Certificate of Incorporation creating a new class of 32,000,000 shares of capital stock denominated as "Class A Common Stock," having the rights and preferences more fully described in the accompanying Proxy Statement and in the form of amendment attached as an appendix thereto. 3. To approve an amendment to the Company's 1989 Employee Stock Purchase Plan increasing the number of shares of Common Stock reserved for issuance thereunder by 2,500,000. --------------------------------- Number 2: Tells me that they need to raise cash, further dilution. What is wrong with their cash flow? Number 3: Tells me that they need to find ways to raise cash through their employees or reward them with stock since they don't have the cash. What is wrong with their cash flow? With all the articles I've seen, the picture of Micron is not that rosy. Also, I will repeat myself, based on projected 1999 earnings (-$0.14) and the P/E ratio of 27, this stock is overpriced and should be in the 20s. Two, three, four years down the road could be a different story, anything can happen. The only reason some people say that the price should be higher is because they are looking at Aug 2000 and beyond which is not smart. That is a recipe for disaster.