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Technology Stocks : IDTI - an IC Play on Growth Markets
IDTI 48.990.0%Mar 29 5:00 PM EST
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To: Taut Knot who wrote (11378)4/18/2002 6:51:06 PM
From: Rob S.  Read Replies (1) of 11555
 
I shorted a little IDTI this afternoon. MSFT, SUN and others have come in with lower than expected revenues and outlooks. Some of the earnings recently reported met numbers only by virtue of spending cuts. Corporations still are not robustly buying. Semi prices, which had appeared to bottom and turn up last quarter, now show that was probably more an end-of-inventory correction ripple. Recently prices of microprocessors and memory components has been headed lower and supply looks plentiful. The key telecomm sector continues to look like a sick little puppy; despite a glimmer of hope from AWE and Sprint, Nokia and other handset manufacturers shed new light on the fact that demand for newer generations of handsets is not materializing as forecast. Now I see even some fundamentally "bullet-proof" areas of IT spending, such as security and utility software, being pitched as worthy of buying based on ROI. This shows the shift that has occurred in the corporate mind-set: from buying out of fear of being left behind to not buying unless a quick profit can be made from the expense and effort. I don't think this is a trivial or short lived phenomena. Times will eventually get better, but only after more grinding of the millstone to turn out better and most cost effective products and services. The bubble in key semi driving sectors may take years to become fully absorbed in the overall growth of the economy.
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