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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank -- Ignore unavailable to you. Want to Upgrade?

To: Jenna who wrote (29306)	3/24/1999 11:23:00 PM
From: Jenna	Read Replies (1) \| Respond to of 120523

Earnings Play: Micron posts profit as chip revenues jump MU this time together with COMS for tomorrow I really do expect them both to move. I went long MU twice (for a total of 16 calls for April and May expiration this week and mentioned it on the Watch List and on the thread. This week the "earnings Plays" kicked in very nicely, albeit it took a while, but since we were otherwise occupied with out 'nets, that was fine with me. Note how interesting that Corel Corporation a 'potential' was not mentioned once nor did show an iota of 'anticipatory upswing' consequently it DID NOT beat the street. Goes to show that this 'method' of anticipation works quite well. This week not one that was 'called' did not show a follow through profit. In fact I'd say we reached over 90% track record this week on our earnings plays. (It is actually more but I'll allow for slippage, etc.) Now this figure is not of ALL the stocks on calendar. Its like saying are all your watch list stocks up? But rather the ones that showed anticipatory upswing and were mentioned as 'triggering buys' or at the very least as being close to 'buy territory' did in fact go on to make a 5% or more profit. BOISE, Idaho, March 24 (Reuters) - Memory chip giant Micron Technology (NYSE:MU - news) Inc. posted its first quarterly profit in more than a year Wednesday, beating the expectations of industry analysts as revenues surged. Micron said revenues for its fiscal second quarter rose 34 percent to $1.03 billion from $763 million in the comparable year-earlier period as pricing for the key computer components stabilized and the Boise-based company gained production efficiencies. As a result, the company posted net income of $22 million, or 8 cents a share for the quarter ended March 4, compared with a loss of $51 million, or 24 cents a share, a year earlier. The profit was the first for Micron since the first quarter of fiscal 1998. The net income reported in the latest quarter included a writedown of 3 cents a share to account for the sale of Micron's flat-panel display business. On average analysts had expected a net loss of 1 cent a share, according to First Call, although individual analyst's estimates had ranged widely from a loss of 18 cents a share to a profit of 10 cents. Micron, along with other semiconductor makers, has seen prices drop steadily due to industry overcapacity, Asian economic weakness and dramatic price cuts by personal computer makers, by far the biggest customers for the memory chips. The more stable pricing environment has allowed Micron to profit from the constantly improving efficiency of its plants. Altogether the company produced 75 percent more computer memory in the second quarter than it did just three months earlier. Micron's direct revenues from sales of personal computer systems fell 22 percent from the year-earlier period to $309.5 millio