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Technology Stocks : Amkor Technology Inc (AMKR)
AMKR 40.85+1.1%10:11 AM EST
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To: LUANNE CLAY-RUSSELL who wrote (221)6/8/1999 7:30:00 PM
From: JZGalt  Read Replies (2) of 1056
 
First of all, the company is for real. Earnings projections have slipped a bit over the past two days because of expenditures to increase capacity and subsequent revenues will not occur until Q3. The interesting factor is the Q2 number was revised downward, but Q3 was not revised upward to reflect the increase capacity. There has also (according to Cowen) been a shift away from the newest K4 facility to a less profitable facility. This might explain some of the Q3 numbers.

Technically the stock has broken down but has not yet fallen below the support level of $7 per share which was the previous low point in March.

What I believe you are seeing today is those people selling after they saw the downgrade yesterday and no sustainable upward movement on the stock as of today. I think we are in for a period where AMKR might rise as the selling abates, but will not reach former highs in the low teens until the Q3 outlook becomes much clearer and the amount of expenditures for Q2 is known.

If your time horizon is 2-3 months, I'd say this is a risky investment unless you are nimble. If you time horizon is on the order of 12-18 months, you should note there are not too many stocks in the semiconductor world that trade at significant discount to their eps growth rate.
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