An awful lot of "real" companies haven't changed much from when they were at their highs. In INTC's case, it was the unnecessary warning. The same thing happened with A last quarter... a warning of lower earnings followed by numbers close to the original whisper(although A was certainly not a $150 company yet).
NOK is a good example, altho they actually have changed a bit, in that they picked up a bit more market share. CEO Jorma expects more of the same growth in phones, expects 1B by '02. He also expects market share to continue rising about 1%/quarter. CNBC reported that the NOK folks were quite upset with the tumbling prices, and announced a week early, just because they couldn't stand it anymore, and knew that ERICY would have bad earnings and didn't want to see that drive the price down even further. I bought NOK in Aug'99, again down from its spring-time high, and believe that the pattern is the same; this will run to 120-150 and split again by April. Lots of companies are in the same boat. Even MSFT is pretty much the same company, although potentially it is 2 new ones. I was even looking at T, but I thought I was too young to buy it, even at bargain basement prices.
You have a good weekend too.
Wharfie |
