Chipmaker

Micron Technologies

(MU) - Get Report

was down 4.7% in early trading after

Lehman Brothers

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analyst Dan Niles lowered his 2001 earnings forecast to 35 cents per share from $1.25.

Niles also cut his earnings estimate on

Cypress Semiconductor

(CY) - Get Report

to $1.80 from $2.20. Niles cited declining prices and margins.