Yeah !
As a subscriber to Business Week, they inform me by e-mail of articles as soon as they are posted online. I admit things do not look rosy for EMC right now, but, at some point, BW did make their front page with Enron, proclaiming it was the company of the future... How wrong can you get ! As for EMC, I am looking at the way they are behaving in these difficult times and am impressed by their positioning.
My point is : these are difficult times for tech companies. But, just as there was a turnaround when things looked too good, there will be another one and things will start going the other way.
Fact is, in the forecasting business, everybody is right AND wrong, but not all the time and obviously, not at the same time or for the same reasons.
There can be a case built for a NASDAQ at 7 or 800, and there can be one built for 10 000. (Right now, the latter one seems rather improbable...) A lot of money has gotten out of the market and it has nowhere to go. When visibility comes back, everybody might scramble back in the market. Prices are so low right now, nobody will want to be left behind. Of course, that can also be years away, depending on how things evolve : possibility of war, gas prices, emerging markets collapsing, etc...
But, in any case, the main question has to be : when will profits return ? |
