Simplot Expresses Confidence In Micron

Tue., Nov. 19, 1996

From Staff And Wire Reports

Despite a downturn that caused the company’s stock to sink, officials of Micron Technology Inc. remain optimistic about Micron’s long-term prospects.

“I feel better than I have ever felt in my life about Micron,” said the company’s largest shareholder, Idaho industrialist J.R. Simplot.

Micron’s annual shareholder meeting in Boise produced rosy predictions about the future. But President and Chief Executive Officer Steve Appleton said Micron’s long-term prospects don’t necessarily translate into short-term improvements in the price of the company’s stock.

Micron, the Boise-based computer chip manufacturer, saw its stock reach $94 in September of 1995. But prices for its mainstay products have plunged dramatically in the last 12 months.

Micron hit a low of about $16 before recovering to about $30 in recent weeks.

Simplot and his companies hold 31.7 million of Micron’s 215 million shares.

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Simplot Expresses Confidence In Micron

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