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Strategies & Market Trends : Technical analysis for shorts & longs
SPY 691.88-0.3%Jan 30 4:00 PM EST
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To: Johnny Canuck who wrote (33022)6/22/2001 10:57:17 PM
From: Johnny Canuck  Read Replies (1) of 70287
 
EMKR Upgrade details:

Wit SoundView Afternoon Research Highlights for June 21, 2001

Emcore (EMKR)
Price: $23.33
Strong Buy

F02E: $0.57
J Lau

We are raising EMKR to a Strong Buy based upon the solid fundamentals of their various product lines. We believe they made our June quarter numbers and will not lower top line guidance going forward. We also believe that the JV losses below the operating line will go away in the Q1 CY02 quarter and that will allow the operating line performance to flow down to earnings. We would focus on the top and operating income lines as true indicators of the company's performance rather than the EPS line until next year. Six sequential record revenue quarters in a market where almost all other companies in this sector have pre-announced lower guidance. EMKR positioned at MOT Phoenix for almost all products using HBT, PHEMTs, and E-MOD in Wireless handsets. EMKR VCSEL products are gaining wide acceptance in the Very Short Reach (VSR) optical products that bring the full bandwidth of the Core optical backbone closer to the edge.

EMKR MOCVD capital equipment business is flat to slightly down with a book to bill of just slightly less than one but that the other products will make up for the revenue difference.



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