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

To: Michael Bakunin who wrote (45222)	4/21/1999 3:36:00 PM
From: DJBEINO	Respond to of 53903

Micron Technology Falls Amid Concern About PC Demand Slump Micron Technology Falls Amid Concern About PC Demand Slump Boise, Idaho, April 21 (Bloomberg) -- Micron Technology Inc. shares fell as much as 12 percent amid concern that the No. 2 maker of memory chips will be hurt by lackluster personal computer demand. Shares of Boise, Idaho-based Micron fell 4 1/4 to 40 in late trading. The shares fell as low as 38 7/8. The stock has lost about half its value since early February, cutting about $11 billion from the company's market capitalization. Compaq Computer Corp., the world's largest personal computer maker, as well as Dell Computer Corp. and International Business Machines Corp. have warned that PC sales are slowing. And today, Daniel Niles, a BancBoston Robertson Stephens Inc. analyst, lowered is rating of Micron Technology to long-term ''attractive'' from a ''strong buy.'' Niles also cut his 1999 earnings to 24 cents from 75 cents a share, and his 2000 estimate to $1.88 from $3.00 a share. Last week, Intel Corp., the No. 1 computer chip maker, said its first-quarter sales that were lower than expected amid weak demand for personal computers.