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Technology Stocks : International Rectifier (IRF)
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To: marvin litman who wrote (1616)9/6/2002 12:09:07 AM
From: DanZ  Read Replies (1) of 1712
 
The problem with IRF is that it is a semiconductor stock, and the SOX traded at a four year low today. The reversal yesterday in the SOX looked good for today, but then the market got nervous over what Intel might say in their update after the close. As it turned out, Intel didn't say anything surprising and traded up 75 cents after hours. That should bode well for IRF and other semiconductor stocks tomorrow.

I still remember very well when this stock traded as low as $4 in August 1998 during that SOX bear market. Stocks do crazy things at the extremes of bull and bear markets. This stock wasn't worth 70 in May 01 and it surely was worth a lot more than 4 in August 98. I don't think that it is as undervalued today as it was in Aug 98, but it will trade higher if they meet their $1.50 EPS estimate next year, and the SOX recovers. The SOX topped out at 1362 in March 2000 and closed at a four year low today of 275. The duration of the current bear market is 30 months, which well exceeds the duration of any previous bear market. The SOX isn't going to 0 and many semiconductor stocks are trading at reasonable valuations. Seems to me that a close above 301 in the SOX, which is the high this month, would give a short term buy signal.

I don't currently have a position in IRF, but am holding several other semiconductor stocks. Has anyone heard from HP Yee in the last four years? lol Man, time flies! Hi Marvin. You've definitely had patience with this stock. I hope that it does well for you.

Luck to all,

Dan
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