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Technology Stocks : Rockwell-Spins off Conexant (CNXT)
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To: Lou Weed who wrote (1721)10/19/2000 12:41:29 AM
From: David W. Taylor   of 2013
 
>> C'mon David, you've got the world's largest independent communications semiconductor company sitting at a P/E around 20, spinning off it's Network Access Division in a couple of months, step up to the plate and join the longs >>

Good point. We've also got:

* $35 oil on its way to $50
* A potential Middle East war
* Two candidates for US President in a dead heat.
* 52 week lows on the majority of the S&P 500
* A currency called the Euro that should be renamed the Zero.
* DRAM's approaching $4, when 7 or 8 was predicted.
* Intel in half.
* Microsoft in half.
* IBM slaughtered.
* Cisco hitting a low of $50 today
* Nokia at $30
* Xerox having credit problems and rumored to be near bankruptcy....
* A forecast from Conexant's own management of poor revenue growth in the fourth quarter.

("For Conexant overall, we anticipate that revenues will be down 5 to 7 percent sequentially this quarter, with gross margins maintained in the range of 46 to 47 percent. With the addition of the Novanet and Netplane research and development and marketing teams, we expect operating expenses to increase and operating margins to be in the range of 6 to 8 percent.")

"Apart from that how did you like the play Mrs. Lincoln?"

If the bottom is truly in, which can only be told after the majority of stocks start going up, then maybe it is time to consider a position. Remember we have only staggered half way through October.

This one is still a SELL but the per share value is much closer to realistic.
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