Steve,
"perhaps it's related to the reportedly weak sales of
MSFT's X-Box? FLEX builds those, right?"
Sorry about the delay in responding. Most everyone
knows by now Flex guided lower for next quarter
and several brokerage firms slashed this year's
and next year's earnings estimates...weakness
across a wide spectrum of technology products:
X-Box, Wireless, Networking, etc. Still holding
all my shares though today's market overall fall
was rather steep...and I'm sure many individual
(and institutional) investors are rather shaken
by the market weakness and how deeply stocks are
being chopped down on negative news: witness
Dynergy & Verisign for ex.
Monday should be "interesting" to say the least.
Be careful out there.
Good luck to all. Peter.
Flextronics International (FLEX / Nasdaq)
Deutsche Banc Alex Brown
Reducing 2002 estimate to $0.48 per share, as the company
warned its end-markets remain weak. Maintain Strong Buy
rating, as we believe the stock is trading at trough levels.
Flextronics International (FLEX / Nasdaq)
Lehman Bros
Reducing estimates to meet the company's guidance, but we
believe investors may have feared worse downside. Maintain
Strong Buy rating, as the shares should rally once
visibility improves.
Flextronics International (FLEX / Nasdaq)
Prudential Securities
Reducing fiscal 2003 estimate to $0.50 per share, based on
management's cautious demand outlook. Maintain Buy rating,
because of the company's long-term positioning, and
leverage to the economic recovery. |
