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SAN FRANCISCO -- Micron Technology (MU) is offering Evian to the drowning.

Presenting at the

Robertson Stephens Tech 2001 Conference

Monday, manager of investor relations David Parker held out an incentive for PC manufacturers swimming in Micron's memory chips. It seems that with six to 10 weeks of memory inventory on hand at PC makers, DRAM to be specific, prices are rock bottom.

PC players are going to love this, if they can clear out their windpipes.

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A well-hydrated Parker explained that the price for memory has fallen about 40% as PC makers sandbag their leaking empires -- the same 64 megabytes of memory that cost $5 now can be had for $3. Some direct-sales model PC players have already managed to wade through excess memory up and begin to reap the benefits of consuming the new, low-cost memory. Now Micron is just rooting for the rest of the gurgling field to right themselves and do the same. "Inventory builds have most likely leveled off," he said. "We have heard from our major competitors that inventory levels are less."

Which means it's time to break out the refreshments and celebrate. Micron expects PC shipments will grow 10% to 12% this year, compared with estimates of 12% to 15% increases. And he'd like to put a cold, refreshing glass of nature's goodness to each bluish pair of PC lips out there.

To maintain its own health, Micron projects a serious uptick in the amount of memory PC makers put into business computers, consumer computers and laptops. Consequently, it expects to shuck out on $2 billion in capital spending this year, and it hasn't backed out of any lithography orders.

"I wouldn't say it's great, but it's not horrible," says Parker.

Anyone for a drink?