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To: Broken_Clock who wrote (7574)	2/24/1999 5:41:00 PM
From: drsvelte	Respond to of 14427

Pappy, what makes MU a $100 stock is if people "believe" the story. Those are the facts to me. You can say the same thing about AMZN, AMTD and all the cheesy net stocks like Pink Monkey.com. Actually, compared to these, MU looks like a blue chip (no pun intended) to me! MU makes for a nice trading vehicle - short and long. From Briefing.com 13:00 ET ****** MICRON TECHNOLOGY INC. (MU) 73 7/8 +3 9/16. Memory chip maker continues its awesome comeback as the stock is moving higher today following positive comments from BancBoston Robertson Stephens' semiconductor analyst Dan Niles. With Thomas Kurlak no longer part of the analysts' community (he's joined a hedge fund) and a main doubter of the rebound in the chip sector, it appears that the coast is clear for Wall Street to once again fall in love with the stock. Mr. Niles reiterated his "strong buy" rating on the DRAM maker with a year 2001 price target of $200 on the view that the good times for this battered memory maker are approaching faster than anticipated. While a $200 price target seems very high, it is the same price objective he had when shares of Micron traded in the low $50s three months ago. Yesterday, Micron received positive praise from DLJ as the firm upgraded the stock from "market perform" to "buy" following positive checks of DRAM vendors. DLJ set a nearer price target of $100, which seems rather doable given the momentum the stock has picked up. It appears that both firms are convinced that DRAM prices have more than bottomed and that renewed demand for memory chips will allow Micron to turn a profit sooner than initially projected. Of course, we've been down this path before when conditions in the semiconductor sector appeared to be improving, only to be let down by unexpected bumps in the road. This time around, however, all signs point to a sustainable recovery as DRAM prices have managed to stick above the $9.20 level and demand for 64 Megahertz devices remains strong. If prices remain steady or managed to move higher, it could allow Micron to earn as much as $0.50 per share in the current fiscal year. While such a profit leads to an unimaginable price-earnings multiple for 1999, expectations are for the chip maker to make at least $3.85 in the subsequent year, bringing the multiple to a more acceptable 19 times earnings. Of course, this is all predicated on Micron delivering the goods if DRAM prices do not fall again.