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

To: DJBEINO who wrote (45904)	5/20/1999 2:22:00 PM
From: Thomas G. Busillo	Read Replies (2) \| Respond to of 53903

DJ, this is my beef with financial outlets like Bloomberg. Where does it mention what CNBC reported? So he has a I-T and L-T accumulate but according to CNBC he cuts his numbers. But leaving it at that really it wouldn't be fair. I haven't seen whatever came out today, but I just got through his 4-28-99 report initiating coverage and being as objective as possible - it's a really great piece of work. Outstanding really. FWIW, here's how it starts: We are reinitiating coverage of Micron Technology with a rating of accumulate for the intermediate and the long term. The DRAM pricing environment is weak currently, as is likely to remain so until the autumn. Investors looking for a quick upside would be well advised to search elsewhere. However, we think that the balance between supply and demand is likely to improve significantly by the fourth quarter of this year. We also note that the trend towards consolidation in the DRAM industry remains intact, with Micron cementing its position as one of the industry's largest and most cost-competitive players Yes. Now that makes sense. The rest of the report is IMHO extremely solid (although, I guess if you really wanted to push it, you could question whether supply/demand parity will really occur in the 4th quarter, but I think regardless of when exactly parity is reached the key point from a trading/investment perspective is that most likely prices will be rising and we all know what happens to this stock when prices start to rise). Relative to some of the stuff I've seen, it's understated, but at the same time he makes a forceful case. (Anyone who's interested can get it through Multex after registering multex.com). There's a qualititative factor that gets lost when these outlets just focus on ratings and estimates. It's not black and white. And it has to be tough being shoe-boxed into a rating scheme. And am I taking the time to write this because I feel a little guilty making that "behind the curve" comment when in fact there was a pretty good piece of work hanging out there? Of course <g> Good trading, Tom