Thread,
Having been on board for nearly all of the ups and downs, I remain optimistic. I haven't seen anything that has shaken my view of the potential--in the relatively short term now. I could do without these huge downward moves, but I suppose that's inevitable with a small tech stock.
Anyway, Merrill still likes us:
October 05, 1999 09:52
Merrill's Osha Expects Upbeat Quarter For Semiconductor Industry
(NewsTraders.com)-- Merrill Lynch's semiconductor team, led by analyst Joe Osha, expects the September
quarter earnings season for the chip industry will be upbeat despite the recent earthquake in Taiwan, which
halted production at many fabrication facilities.
In a research report, the analysts said that the turnaround in demand and pricing that began in the fall of
1998 continues, which should make it easier for the industry to hit Merrill's growth expectations of 16% in
1999.
Two weeks after the Taiwan earthquake, Osha and affiliates believe most of the equipment at the major fabs
had been recalibrated by the end of last week, and the brokerage giant expect most fabs to be running at
full wafer starts shortly.
Osha still believes the fundamentals in the communications sector are compelling, and would use any
pullback in the sector as a buying opportunity.
Companies for which Merrill Lynch has either intermediate- or long-term "buy" recommendations include Atmel
(ATML), Broadcom (BRCM), Conexant (CNXT), Intel (INTC), Linear Technology (LLTC), PMC-Sierra (PMCS),
Sandisk (SNDK), Texas Instruments (TXN), Vitesse Semiconductor (VTSS) and Xilinx (XLNX).
Oher firms for which the brokerage firm's investment stance is positive include Altera (ALTR), Microchip
(MCHP), Galileo (GALT), Lattice (LSCC), and MMC Networks (MMCN) and PLX Technology (PLXT).
Most of the firms listed above are scheduled to report earnings for the period in mid-October.
Of note, Osha believes that supply chain disruption in the PC industry will cause Intel to be more cautious in
its assessment of the December quarter than it would otherwise have been.
Copyright 1999 NewsTraders Inc. All Rights Reserved 11:00 Tuesday, October 05, 1999 |
