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To: IceShark who wrote (23317)	3/4/1999 3:31:00 PM
From: accountclosed	Read Replies (2) \| Respond to of 86076

Did you see Mona's full text? <hs> Intel (INTC-Buy-$114 11/16) Investor Suitability: Growth We are upgrading our investment opinion of Intel stock from a Buy to a Strong Buy. We believe anxiety over the PC market is blown out of proportion and translated to Intel's valuation falling almost 20% in the last two weeks. This was accomplished without consideration of all the facts. Intel is staging one of the smoothest product introduction/ramp in its recent years with the PIII introduction and product ramp moving smoothly. Intel's major competitors are dealt a hard blow with the efficiency of the PIII's introduction including the aggressive pricing for the entire product line. We believe that Intel is at the beginning of a profit cycle with a strong product line-up and enhanced manufacturing. We expect PC unit demand to continue in 1999 and 2000 driven by the Internet as well as a host of new products from Intel. We view current Intel stock weakness as an outstanding buying opportunity. Our 12-month price target remains at $170. ( Mona Eraiba ) Micron Technology (MU-Strong Buy-$52 5/8) Investor Suitability: Aggressive Growth We are upgrading our recommendation on Micron Technology to Strong Buy from Buy and are also increasing our 12-month price target to $100 from $65. Furthermore, we believe MU's recent price decline is overdone and makes for an excellent buying opportunity. We are convinced that the DRAM market is in the early phase of a long term cyclical recovery that could last between two and three years. This, of course, bodes extremely well for MU. Micron's production costs are dropping rapidly, the conversion of Texas Instruments (TXN-NYSE-$91.88-Strong Buy) capacity is moving smoothly; MU is rapidly expanding its output and capitalizing on the current market opportunity. Additionally, MU's major Asian competitors are still suffering from the Asian crisis and their access to massive capital does not appear likely in the foreseeable future. Micron is rapidly moving toward becoming the number-one DRAM supplier in the world with the lowest cost structure coupled with a formula for dramatic earnings leverage. Based on the above reasoning and the recent MU decline in valuation, we believe MU stock represents remarkable value. ( Mona Eraiba ) gruntal.com