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Politics : Ask Michael Burke

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To: Knighty Tin who wrote (28643)	5/30/1998 6:58:00 AM
From: PaperChase	Read Replies (2) of 132070

Below is a great example of clueless analysts and a strong reason why it has taken so long for MU's share price to implode. (I know you have always known the reason why so it is for the benefit of others that I make this post.) It must be god-awful embarrassing to admit being this dumb: A real "shocker" about Smart Modular: "It took us completely by surprise," said Robert Stone, analyst with Cowen & Co. "In fact I think none of the analysts saw it coming." Mr. Stone is referring to Smart Modular's recent admission to Wall Street that, despite meeting its second quarter earnings numbers of 30 cents per share, it would likely not make its third- and fourth-quarter earnings forecasts due to an "uncertain environment." This revelation led Cowen & Co., along with NationsBanc Montgomery Securities and Morgan Stanley, to downgrade the stock from Buy to Hold. Already trading in a declining market, Smart Modular's stock dropped like a brick in shallow water," Here is the full article at Red Herring: redherring.com

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