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Technology Stocks : Oracle Corporation (ORCL)
ORCL 181.20-5.2%2:40 PM EST
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To: Qualified Opinion who wrote (17075)6/3/2002 1:29:20 PM
From: MeDroogies  Read Replies (1) of 19080
 
What you're forgetting (though I am on your side on this topic), is that analysts will spin the dollar effect as a "cyclical" or some other kind of item (one time only, etc), thereby bolstering their case.

I don't disagree that ORCL will likely meet or beat their consensus, and legitimately. But analysts will spin, spin, spin to get the people to hear what they want to say. Journalists, lacking any kind of clear analytical thought of their own, will take the analysts' words and use them as Gospel.

I remember watching this happen the last time ORCL was in the dumper. They beat by 4 cents and had growing earnings, but the analysts who were beating it up spun a "low revenue growth" story to keep the stock from moving. On the flip side, almost 6 months later, they had jumped on the bandwagon and were screaming about how stunning the revenue turnaround was....it's all in the spin.
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