Burke:
I have lurked here for a while. Since you seem to be the lightning rod for bearish sentiment, I just have one question.
How can ATML decline to 10 with est earnings of 2.07 for FY96? This amounts to 80% earnings growth from 95. With est 97 earnings at 2.50, another 20% growth on top of that, I just don't see how you can assert that 10 is a reasonable downside risk, unless the entire market drops far more dramatically that the 87 drop.
My source for these numbers from Marketscope follows:
****Outlook: '97 EPS estimated $2.50, '96's seen $2.07 vs. '95's $1.16... No
dividends paid. Tel.# 408-441-0311
7/11/96 1:00 pm... STILL ACCUMULATE ATMEL (ATML 27****)... Co. says consumer,
computer peripheral, US and Asia telecom markets all robust... only weakness is
Europe GSM market... Demand very strong from Japanese cell phones, after recent
rate cut, and from Chinese pagers... All product lines grew in Q2, selling
prices declining at stable rate... Design wins in telecom and consumer sectors,
as end-users prepare for holiday season, should allow revenue growth in 2nd
half... ATML continues to add leading edge (0.35 micron) fabs, see capacity up
10% in Q3... Assuming price declines continue stable, boosting our '96 est. to
2.07. /S.Jaworski |
