Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Fabeyes who wrote (45808)	5/14/1999 10:25:00 PM
From: Fabeyes	Read Replies (3) \| Respond to of 53903

I did not see this on the thread but I was in a hurry: May 14, 1999 09:35 AM CHICAGO, May 14 (Reuters) - ING Baring Furman Selz said Friday it initiated coverage of Micron Technology Inc. with a hold rating. -- ING Barings says in a report it believes that over the next three months, Micron shares are not likely to move much higher because DRAM (digital random access memory) prices "are declining more rapidly than the company's ability to reduce manufacturing costs." -- Says DRAM prices in the first quarter averaged $9.50 and now have fallen to $5.80 or less in the spot market. -- Says expects "mild" seasonal pick up in PC demand later in the year, which will lead to an acceleration in earnings in the coming fiscal year. -- "This may present an opportunity for a trade, but we are concerned that DRAM overcapacity issue may continue to plague the industry," ING Barings said. -- Micron Technology shares were off 6/16 at 37-3/16 in morning trade on the New York Stock Exchange. ((Chicago equities news, 312 408 8787, chicago.equities.newsroom@reuters.com)) REUTERS --------------------------------------------------------------------------------