Oracle also rates an "8" like adobe, but I suspect this is a new rating for Oracle after their recent results and stock appreciation. Before last Q, they were probably a 2 like sebl, beas etc.
Adbe trades with msft and doesn't really track with enterprise application software, which is the hardest hit.
I can't see too much difference between what I'm hearing about software now (bear stearns starting sebl with sell, saying no recovery until 2004) - vs. what I heard earlier this year on comm infrastructure, which has since stabilized and is climbing. About 6 weeks ago some analyst downgraded ciena to sell with a target of 3 and no recovery until 2004 also. That was the bottom on ciena.
If oracle can sell software and surprise to the upside by 67mm-117mm on the pure licenses side, then sebl can probably make their lowered estimates too, although I suspect orcl is selling mostly infrastructure upgrades to start. App software always follows though. Since oracle climbed by about 10 billion in mkt cap since their results in this market, it seems like there are some large investors waiting to get in on even the slightest news that these guys arent going away completely.
BTW a bunch of software that was once in the G&K WW and G&K portfolios is being given away: manu, itwo, prgn for starters. Not sure if you ever had beas. There are different reasons for each of these to be so low, but if future downside in sebl is a concern, you know these aren't going any lower unless a BK is on the horizon.
man, am I rambling today!
Hey does anybody here know anything about procket networks (not public)... tia
Lizzie |
