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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 (11398)6/13/2002 1:25:06 AM
From: Rob S.  Read Replies (1) of 11555
 
I wish I knew. Biotech is likely to bottom out by this fall. I think we are seeing a near term bottom in the NASDAQ and SOX. Recently the market hasn't been so much effected by bad news or it has been isolated to the particular stocks effected and there has been some favorable news, such as NSM, MOT. I expect some firming up of the commodity component companies, such as passives and commodity semis except for memory. I think that because these companies will be driven by consumer markets, inventory replenishment and the fact that they are already at commodity pricing and not subject as much to pricing pressure as the higher end semis. My guess is that we see bottoming action, rocky up and down trading, for a couple weeks with a rally kicking in sometime around the 4th of July holiday period. This is strictly a guess. II don't know if we will see yet lower prices later in the summer or that will be the end of the bear. There are arguments that some valuations are still quite high given that the critical telecommunications market is several months away from a robust recovery and the dollar is devaluating and foreign investors might continue to flee U.S. based equities. But at some point the perception is bound to shift to an outlook for the future. Whether that future justifies prices still pegged at high multiples is still a guess . . . I have my doubts that the semi sector will soar for a prolonged period during the next several quarters.
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