t2, the problem as usual is every analyst and his brother and sister feel they can critique the PC and µP businesses. When things look not so good, they all pile on. That's what is happening right now. I'm really beginning to feel that there is so much herd buying and selling in Intel and the PC stocks that one is better off being more into tech stocks that the so called analysts don't have the brains to figure out. Obviously, today that would be network, optical and storage.
Speaking of storage, when all that consisted of was the disk drive companies, the analysts had a field day with them too. Anybody could figure out the hard drive business, one drive per PC, so they go up and down together. Then, along came EMC who packaged up smart controllers and software in with racks of drives and all the analysts went gaga. This must be the panacea of all time, so they award EMC with a PE 7X that of Intel even though EMC's long term growth is less than 2X Intel's. And, EMC has some pretty tough competitors like IBM and Compaq; Intel has only AMD.
Intel got 7 downgrades the morning after their pre-announce. Not good enough for SSB's JJ. He has to grab some more spotlight the day before earnings. That's low.
It ain't fair, and you have to go with the flow, and right now, it ain't PC/µPs.
Tony |
