Re: [CANSLIM] Deflation?? "M"???

From: "dennis nitka" <dnnitka@hotmail.com>
Subject: Re: [CANSLIM] Deflation?? "M"???
Date: Wed, 18 Dec 2002 09:23:07 -0500

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Tom,

I understand you have a canslim list. If you do, could you tell me a little 
more?

Thank you

Dennis Nitka






>From: "Tom Worley" <stkguru@bellsouth.net>
>Reply-To: canslim@lists.xmission.com
>To: "CANSLIM" <canslim@lists.xmission.com>
>Subject: [CANSLIM] Deflation??  "M"???
>Date: Wed, 18 Dec 2002 00:03:22 -0500
>
>from Reuters tonight (and likely to weigh on NASDAQ on Wednesday) (emphasis 
>and coloring my own):
>BOISE, Idaho, Dec 17 (Reuters) - Micron Technology Inc. (NYSE:MU - News), 
>the No. 2 maker of computer memory chips, on Tuesday reported a wider 
>fiscal first quarter net loss, saying the average selling prices for its 
>products dropped about 12 percent from the prior quarter.
>
>Nah, I am not worried about deflation, of course not, who are you kidding? 
>Folks, that's a SEQUENTIAL quarterly drop in pricing, not even year over 
>year.
>
>Other comments:
>
>Micron wrote down $91 million in inventory
>
>Micron had $873 million in cash and marketable securities at the end of the 
>quarter.
>
>The high proportion of older products Micron sold as opposed to newer, 
>faster memory chips was a surprise and accounted for the lower overall 
>selling prices
>
>In addition, Micron had trouble ramping up production on a newer technology 
>at one of its facilities
>
>from Charles Boucher, analyst at Bear Stearns:
>
>"The only silver lining is that pricing did improve during the quarter on a 
>number of their products and they should be able to hold it relatively flat 
>going into the current quarter,"
>
>"I would expect a combination of slowing PC demand heading into 2003" and 
>other companies boosting production of the newer, faster memory chips to 
>cause prices to fall
>
>Tom Worley
>stkguru@bellsouth.net
>AIM: TexWorley


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