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

To: DJBEINO who wrote (45421)	4/28/1999 4:32:00 AM
From: tom rusnak	Read Replies (2) \| Respond to of 53903

On April 21, 1999 Dan Niles downgrades MU On April 22, 4,000,000 shares were sold according to this filing. Bad Coincidence or did the Grinch steal Christmas? tom From the SEC filing: ================================================= (c) During the 60 days prior to the date of this Amendment No. 12, the Revocable Trust sold an aggregate of 4,000,000 shares of Common Stock in order to increase the diversification and liquidity of its investment portfolio. Such shares were sold in public sales on the New York Stock Exchange on April 22, 1999 at the per-share prices (before brokerage commissions) indicated below: No. of Shares Price ------------- ----- 2,808,400 37.0000 47,000 37.0625 59,000 37.1250 25,000 37.1875 51,000 37.2500 15,000 37.3750 10,000 37.4375 210,200 37.5000 93,400 37.5625 47,000 37.6250 46,000 37.6875 2,000 37.7500 205,000 38.0000 42,000 38.0625 67,000 38.1250 11,000 38.1875 34,000 38.2500 42,000 38.3125 43,000 38.3750 25,000 38.5000 104,000 38.5625 5,000 38.7500 3,000 38.9375 5,000 39.0000 --------- Total 4,000,000 ========= In addition, on April 22, 1999, the Revocable Trust donated 1,000,000 shares of Common Stock to the J.R. Simplot Foundation.

To: DJBEINO who wrote (45421)	4/28/1999 9:46:00 PM
From: laurel bowen	Respond to of 53903

One standout among chip stocks was Micron Technology, whose shares rose after Merrill Lynch analyst Joseph Osha reinitiated coverage with an Accumulate rating. "Forecast earnings of $0.05for the current quarter [ending May] and $0.19 for the August quarter are not exciting," said Osha in a report Wednesday. This is because prices are likely to continue to be depressed through the summer.Indeed, the analyst's estimates are much lower than the consensus estimate of 19 cents for the third quarter and 33 cents a share for the fourth quarter (last quarter, the company earned eight cents a share). So what does Osha like about the stock? He expects Micron's earnings to accelerate to 67 cents a share in the November quarter as the balance between chip supply and demand improves by the fourth quarter of the year for memory chips, also known as dynamic random access memory (DRAM). Declining PC prices are driving unit sales of PCs higher and therefore, sales of memory chips. "Our model shows market demand for DRAM in the fourth quarter of 1999 as sufficient to take all available supply, the first time that has been true since early 1996," Osha said. He also expects consolidation in the memory chip arena to continue and result in five or six major players in the world. "A return to weak DRAM prices, combined with serious restructuring efforts at major Japanese and Korean DRAM makers, have a substantial portion of the world's DRAM makers asking themselves how committed they really are to the DRAM business," Osha said. "Looking out over the longer term, Micron is clearly establishing itself as a leading player in a shrinking field," Osha said. Given his outlook, Osha thinks investors who have patience should buy the stock. "We believe investors should begin to accumulate the shares now," he said. "The stock price should appreciate rapidly once better earnings prospects appear again." MR