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To: Curlton Latts who wrote (44551)	3/29/1999 9:52:00 AM
From: Stefan	Read Replies (1) \| Respond to of 53903

You should not smoke this stuff this early in the morning.<g> Then when you see this company earning $5.00 or $10.00 per share

To: Curlton Latts who wrote (44551)	3/29/1999 9:59:00 AM
From: Zeev Hed	Read Replies (1) \| Respond to of 53903

Curly, I think that different people might have different opinions on this, I calculated that if in 3 years we indeed have a $40 billion DRAM market world wide (which I doubt) and if MU brings to the bottom line 10% after taxes (which I doubt as well), and if MU gets 25% of the total market (which I doubt as well), then they may earn $3.30/share (if the number of shares is 300 MM which I think is low). So, $2.70 next year must be someone's pipe dream. It would require under the best conditions that MU gets some $8.1 billions in sales (twice their current selling rate), which would be close to 25% of the "expected" market of $27 Billions for DRAM, brings down 10% after taxes to the bottom line. It surely is not a "slam dunk", it is a far fetched speculation that everything goes absolutely right. And even if it does happen, why is it worth 40 times earnings when the next cyclical down turn will already be on the horizon by the end of 2000 or 2001? Zeev