Here's the detail on JP Morgan's rationale for their broad sector downgrade today:
cnetinvestor.com
There does seen to be some mounting evidence of a slowdown in semiville; however, I still think (perhaps blindly so) that ADI has limited exposure to the two widely sighted reasons; handhelds and PC's.
I've cancelled my buy at $56.50, but will fill the buy at $58.50, probably today. That said, I'm keeping a tight stop on my entire ADI position (going back now two years), thinking that if ADI breaks $57+ it will probably get much uglier.
I still think they should pre-announce earnings and forecast! If they don't, which makes even more sense now than when I first asked for it a week ago, then they may, in fact, be seeing some minor order delays or pull backs (which in reality means they grow 40%, not 60% in H1, 2001). Not shabby, but look what the market did to NT for admitting it's growing faster than the market, but not as fast as prior Q's.
Time for caution here, IMO.
BV |
