Chris, regarding analysts estimates, they may all be their best faith effort, but I doubt it. I've seen many an estimate high-balled or low-balled to get their clients in or out, then readjust the estimate closer to the consensus. I've seen Kurlak do this on Intel & dropped estimates when good earnings were announced which dropped the price, then flip flopped two days later with an upgrade and earnings increase. The out of range estimates are particularly of suspicious nature IMO.
On another note, don't know how many here follow ADBE/Adobe, but they're getting the red carpet treatment for coming in about 50% off from same Q last year, not unlike ADPT's recent numbers when they cut ADPT in half. ADBE got an actual UPGRADE today by Alex Brown to help avert a panic, and the stock is trading at its recent highs of about 44 (excluding a freak runnup to 49 yesterday). Bad Asian impact, bad Mac sales, bad North American sales, 1/2 last year's earnings, and 1/2 last year's cash as they spent it on a buyback! ADPT truely had special treatment before Greenspan's boys probably made such treatment illegal due to its unnerving effect.<g> Have we seen a good crash since ADPT? Cabletron, 3COM, AULT, and now ADBE to name a few, have all since ignored or rewarded worse than anticipated earnings reports. I'm still amazed that the irony of this isn't picking this stock up a bit yet as oversold.
regards,
Tom |
