I'm waiting for sentiment to shift on the last two darlings in tech. To me, it's not enough for the price to simply fall and fall, we have to get to the point where people are losing all faith in the stock. I don't think we're there yet, but we're getting close.
I read once that if you want to find a bottom you won't find it when people are asking, "Is it too late to buy this stock?" or "Is it safe yet?" But, rather, it's when they are saying, "Is it too late to sell this dog?"
My personal targets have been, for many months, $25 for SUNW and $37 for CSCO. We're getting close to the first, but what worries me is I'm still hearing semi-optimistic statements like "such and such seems a fair price" or "$___ would be a good entry point" from the longs. I may have to lower my targets for both.
As for EMC, how about 40 X forward earnings, or about $41/share? Just my own SWAG, of course. |
