Micron Technology opposes U.S. role in Korean bailout
Article Abstract:
Micron Technology is lobbying Congress members and officials of the US government to question their decision to bail out South Korean chip makers with American tax dollars. Micron CEO Steve Appleton is concerned because US money is being spent to help companies that his company has accused of unfair competition. He believes it is wrong for the Clinton administration to subsidize foreign competitors and take away American jobs, and has the backing of several senators. Micron, one of the last manufacturers of memory chips in the US, is known for pushing allegations against overseas companies that it believes are violating anti-dumping laws. The company will suffer if Korean manufactures are bailed out according to Appleton. He has been urging the Treasury Dept to state how much money will go to the Korean companies, but the Dept has yet to say.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1997
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Micron Technology reports loss that is smaller than expected
Article Abstract:
Micron Technology said its 4th qtr 1998 net loss of $89.1 million, or 42 cents a diluted share, represents price stability for its flagship 64MB DRAM chips. Analysts expected the semiconductor manufacturer to lose 54 cents a share. The company reported a 4th qtr 1997 net income of $72.1, or 33 cents a diluted share. Microm's revenue declined 27%, from $946.2 million in the 4th qtr 1997 to $692 million in the 4th qtr 1998. A surplus of memory-chip facilities as well as a decline in Asian demand caused Micron to report a 60% drop in memory-chip prices for 1998, compared to approximately 75% for 1997. Micron also has switched to 0.21-micron manufacturing technology circuitry, executives said. This new generation may allow Micron to beat its competitors in lowering costs.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1998
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Chip analyst turns heads with flip-flops
Article Abstract:
Thomas Kurlak, Merrill Lynch's semiconductor analysts predicted in early Aug 1997 that semiconductor stocks would increase by 20%. On Aug 13, 1997 he slashed his expectations for Micron Technology in half. Kurlak defends his change in position by explaining that Micron is cost cutting at the same rate that DRAM is falling. Kurlak's statement not only affected Micron, it also prompted Texas Instruments to lose 2 1/2 points to close at 119 3/8. Kurlak's first prediction for Micron caused the company's stocks to rise from $48 to $60 a share. When rumors that Kurlak was changing his opinion began to circulate, the company's stock dropped 5 3/8 to 49 3/4. Kurlak has changed his predictions on Intel in the past, which is causing his credibility to be question by some.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1997
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