Keith,
my advise to you: don't buy anything. Today I was tempted to buy more FDRY and other stocks, but something inside of me told me not to make any moves, wait until the dust settles. Boy I'm glad now, even though I'm shocked and crushed to see Foundry revising their guidance.
Trust me, Foundry is a very good company. If Foundry preannounced, Extreme can preannounce too. What will you do then?
From Foundry's press release:
"These latest projections, modified from earlier higher projections, reflect a shift over the last few weeks in the pattern of communications infrastructure capital spending," said Bobby Johnson, Chief Executive Officer. "However, despite recent challenges in the industry, we think Foundry is very well positioned to build upon the price/performance benefits of our end-to-end IP infrastructure solutions. Foundry maintains industry-leading gross margins, which we believe will remain solid as the Company continually introduces innovative new products." |
