Bosco...
>>If the analysts want to throw the baby out with the bathwater, so be it!<<
I found the following article on the Net today and it is a "toung in cheek" type letter to Wall Street Analysts.
Thought you might find it interesting. Way to many of them play follow the leader and it sure hurts a lot of people.
No direct mention of ADI but indirectly it mirrors what many of the longs on this thread think about ADI and its future.
Long ADI
Bob T.
>>2HRS2GO: Tech landscape isn't so bad
By Sergio G. Non 22GO ZDII
COMMENTARY -- A Tech Industry Memo to Wall Street:
2HRS2GO: Tech landscape isn't so bad...
ANALYST WATCH: Baptism by fire...
Micron Electronics falls after 1Q warning...
Please don't kill us. Not all of us are hurting.
We at Hewlett-Packard (NYSE: HWP) aren't exposed like some of our more PC-oriented peers. Those of us with Novellus (Nasdaq: NVLS) are confident we'll make our number. At Cirrus Logic (Nasdaq: CRUS), we remain on track to hit our forecast. The gang here at Atmel (Nasdaq: ATML) feels fine. On the distribution end in our Arrow Electronics (NYSE: ARW) front, nothing has changed.
We're A-OK.
Despite that, you investors, you traders, you jittery Wall Street types -- you've all combined to pummel us lately.
The Nasdaq Composite Index lost more than 300 points over the first four days of this week, even though everyone knows your beloved Republican administration is about to take over.
Remember that despite what many ZDNet readers seem to think, the PC is not the be-all and end-all of the technology industry. No sir, we've also got servers, wireless phones, routers, switches, audio devices, digital cameras, printers, smart cards, fiber optic boosters, network adapters, digital signal processors. To name a few.
Sure, there's nervousness about some of those product sales also. But all told, it remains strong. Companies are still expanding their Internet presences, communications carriers keep building out their fiber optic loops.
Furthermore, next year things are expected to pick up again. Once the weaker players (Read: pure dot-coms) are gone, the real companies can be expected to do extremely well.
That's because the Internet is not a fad. If it were, you wouldn't be reading this right now.
Almost all of the bad news -- assuming lower PC prices and prudent purchases of network equipment are bad, which they're not -- can be confined to specific companies. Compaq Computer (NYSE: CPQ) hasn't complained about the quarter. Not a peep from Applied Materials (Nasdaq: AMAT). No worries expressed yet by the Micron Technology (NYSE: MU) memory chip business (as opposed to the MUEI computer company, which has been an unfortunate case for a long time). Sun Microsystems (Nasdaq: SUNW) hasn't complained.
Those are bellwether companies to varying degrees. None of them have talked the numbers down.
And in this world of Regulation FD, these companies are almost obligated to put out the word if things look bad. A few months ago, you could dial up the analysts and quietly bring their estimates these days.
Now you have to put out a press release. We're more than halfway through the quarter, and nary a mention from many stalwarts.
Yet you guys whipped us because Gateway (NYSE: GTW) cried about the economy.
Give us a break. We didn't force Gateway into its business model. We're not the ones who told the company to increase its already-heavy reliance on consumer PCs in the same year that Greenspan decided to push a bunch of interest rate hikes.
Not that we think Gateway is a bad business, mind you. But the Cow's problems are largely the result of its consumer PC focus. It has nothing to do with many of us.
Same with Altera (Nasdaq: ALTR), which you all used as another excuse to run from every stock remotely related to semiconductor manufacturing. Telecom companies beefed up earlier this year, and plenty of observers pointed that out months ago. Altera chose not to notice. That doesn't mean everyone else missed the boat too.
So this week, while you Wall Streeters whipped, we've taken the time to remind that not everyone has problems. As we survey our stocks today, we see that you are finally responding to the collective weight of our optimism. Bless you for shedding your mantle of despair. Don't let it happen again.
Regards,
The Rest of the Tech Industry. 22GO << |
