Memory chip maker Micron (MU) - Get Report was down 3.1% in early trading after Lehman Brothers cut its 2001 and 2002 EPS estimates, saying that falling demand and rising inventory were driving prices down.

Lehman also trimmed estimates for two others in the sector,

Cypress Semiconductor

(CY) - Get Report

and

Simple Technology

(STEC)

.

Lehman cut Micron's 2001 EPS estimate to 25 cents from 50 cents, Cypress' 2001 EPS estimate to 21 cents from 35 cents and Simple Tech's 2001 EPS estimate to 7 cents from 20 cents.

Cypress was down 5.3%, and Simple Tech was down 10.2%.