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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: yard_man who wrote (40809)	12/23/1998 5:37:00 PM
From: Robert	Read Replies (2) \| Respond to of 132070

Well, looking more closely at the MU numbers . . . For the shorts, bad news is per-share loss was 9 cents less than expected, sales up sequentially over 4Q98 by about $100 million, 64 Meg SDRAM ASP up 8% from 4Q98. Good news: MU themselves called the price improvements "modest," R&D down $9 mil over 4Q98, receivables flat on a sequential basis, but inventories up a whopping $70 million (from $291.6 mil to $360.4 mil). On the other side of the balance sheet, accounts payable and accrued expenses up huge ($160 mil or so). They have tons of cash on hand to either burn through or do something stupid with. On balance, I'd say they did a bit less crappy this Q, but you just know the crazies will jump all over the headline numbers and bid the sucker up. Looking forward to getting MB's input on this. -- Robert