Positive comments on semiconductor companies:
The first screen was for heavily followed companies with the highest percentage change in estimates over the last 30 days. Heavily followed means the company has five or more estimates, or analysts following the company. The 'Mean of Revisions' column refers to the mean of the analysts who have revised their estimates upward. The 'Mean of Priors' column refers to what the estimates were before the analysts raised them.
You Wile E. Coyotes out there (i.e. super geniuses) might notice a theme. Five of the 10 companies on the list-Credence, Kullicke & Soffa, Asyst Technologies, Micron Technologies and National Semiconductor-are in the semiconductor industry, which means the industry as a whole is going to blow away first quarter estimates
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Dow Jones Newswires -- March 31, 2000
Expect 'Blowout' Erns From Tech Leaders -S&P's McGovern
Dow Jones Newswires
NEW YORK -- The flight into safe-haven Dow stocks will dramatically reverse as semiconductor and other tech companies begin reporting "phenomenal" quarterly numbers, Standard & Poor's investment officer Brendan McGovern told CNBC Friday.
"There's been a shift in the last month, and Nasdaq has been hit hard," he said. "But I certainly don't think it breaks a long-term trend in terms of leadership in the market. Tech will still be the name of the game going forward."
Investors are merely parking money in safe-haven stocks like energy and utilities while they look for the next hot tech sector, McGovern said.
The semiconductor segment will lead the charge, he said. "In two weeks all these companies will report phenomenal numbers. I think you'll see blow-out numbers across the board, and projections going forward will be strong as well."
McGovern expects traditional names like Intel Inc. (INTC), Texas Instruments Inc. (TXN), Analog Devices Inc. (ADI) and Applied Materials Inc. (AMAT) to come out on top. He singled out Amkor Technologies Inc. (AMKR) as a good mid-cap issue. He said these companies stand to benefit from the current boom in outsourcing.
-Katherine Hutchison; Dow Jones Newswires; 201-938-5394
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