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Technology Stocks : WDC/Sandisk Corporation
WDC 168.90+4.9%Dec 5 3:59 PM EST
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To: Art Bechhoefer who wrote (21236)11/28/2001 2:02:34 AM
From: Craig Freeman  Read Replies (3) of 60323
 
Art, my first response to the Tower/SNDK wafer/shares agreement was that SNDK was more than willing to take a big hit rather than to have to pay for actual wafers that they can not utilize. I was equally concerned about the SNDK/Toshiba deal but it now looks like those wafers have the potential to be at least marginally profitable.

When you look back on two-year-old news -- with SNDK shares at $100+ -- and then fast-forward to today ... the loud THUMP that you heard was reality smashing against the overly optimistic hopes and dreams of SNDK shareholders and management.

IMHO, anyone who expects anything other than bad news for the near future is either using the same kind of optimism to bet that SNDK is oversold or they are wearing rose-colored glasses. In the dismal econcomy with consumer confidence at a nearterm low, even if EVERY potential buyer of a digicam bought this Xmas and bought all of their add-on flash from SNDK, there would still be no justification for SNDK's earlier highs.

If you want a clue where the money will be going in the short term, consider the beaten-down airline stocks. This weekend I spent 9 hours driving from Las Vegas to Los Angeles (only 280 miles!) By the time I am done telling everyone I know about why drive versus fly is a painful joke -- and everyone else who was there tells everyone else who wasn't -- I can assure you that whatever fears people had of flying last month will be gone by late December.

Craig
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