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

To: Skeeter Bug who wrote (42286)	1/16/1999 12:32:00 PM
From: Thomas G. Busillo	Read Replies (1) \| Respond to of 53903

Skeeter, WOW! Now THAT's an argument! I checked out the 10-Q's and 10-K's over the same 9 quarters and Micron shows an very interesting use of terminology. I'll post it in a few minutes (once I figure out why all the links are acting so wacky in preview mode). To be totally fair to Niles and Kurlak, although I'm not a big fan of either, if they want to argue that they knew all along that "megabits produced", "megabits sold", "megabits shipped" were not necessarily the same thing, they can make certainly make that argument. I'd like to see the supporting evidence however. Where's the evidence that they knew megabits shipped and output in this case actually were two different things or that this distinction, if made, would have improved the quality if their work product? Did anyone on the conference call, in addition to reportedly expressing some disappointment over +10% production, bother to ask, "yeah, we know that's production. Can you tell us how much you shipped?" "How much you shipped?" - isn't that a KEY COMPONENT of a earnings report? One presumably Micron had to have known in order to come up with sales figures for the quarter, right? One these analyst have to come up with to make forecasts, right? IMHO, what makes it interesting is Kurlak. Niles - fine, you can understand it. But with Kurlak...here's a guy who's just been totally wrong on the price movements, still has a neutral, they post a less-than-expected loss, etc. So if he's making the argument "why I believe this isn't a buy", you'd think he would have mentioned this and not just left it as a somewhat ambiguous term. And if they attempt to shrug it off as "oh, that's just irrelevant. Production is what matters because since they are the low-price producer and can sell all output, etc..." Then why is "output" in the PR an increase of 10% and "megabits shipped" in the 10-Q a decrease 10%? In what should be a VERY STRONG holiday season? With the addition of 2 months of production from the TI assets? Good Trading, Tom