On August 1, 2001, Joe Osha of Merrill Lynch changed his outlook of the semiconductor sector to favorable. He magically discovered that the sector might be bottoming, and sees a possible reversal of fortune in semis going forward. And recommends investors go into the sector now.
This is a joke, coming from a laughable analyst like Osha, who as recently as July 17, 2001 said that semis, like INTC, will suffer further into the Fall, and INTC in particular will reach the teens, (INTC was 29 when he said that, and over 30 now). If you had followed his ill timed recommendations, you would have missed a 30%+ rally in TSM, rallies in BRCM, etc.
Joe Osha, another of the questionable analyst from the firm Merrill Lynch. |
