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Technology Stocks : Semi Equipment Analysis

SOXX 295.15

-2.3%

Nov 11 4:00 PM EST

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To: Donald Wennerstrom who wrote (12088)	10/16/2003 9:48:27 PM
From: Sarmad Y. Hermiz	Read Replies (2) of 95397

Don, this has been a very frustrating market the past few weeks. The nasdaq is moving up as expected. Which means people are making higher bids. But the money is not flowing to my chip stocks at all. Oh, sure Intel is up the requisite 10%. But Xilinx is going no-where. And Altera went down 20% after I jumped into it with both feet. What's going on ? We're surely getting to the nasdaq 2k, but us chipsters are looking at an empty plate. Today Xilinx reported 61% gross margin. Their highest in 3 years. And the stock went down a buck after hours. People couldn't wait till tomorrow to sell. They had to get rid of it right now! I'm already dreading Altera's report. I guess things are going the way you described. Report a good quarter, and the stock goes down. Hopefully, buyers will regroup in the run-up to year-end. I'm still sticking by my expectation that Altera will go to 24, and Xilinx to 34. Intel is already at the target, so I can take that off the to-do list. Sarmad

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