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Technology Stocks : ESST-the new beginning.
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To: SemiBull who wrote (3479)10/31/2003 1:53:31 PM
From: David Wise  Read Replies (1) of 3493
 
I've never seen so much hype by a company over a $.07 profit (that would have been a - $.05 loss if not for a last minute tax advantage) that wasn't followed by insider trading. BEWARE! Further, the rattling of chains over increased revenue projection in the 4th quarter over the 3rd is misleading. This should be their strong quarter, if you can call $.06 - $.09 or so "strong". In comparison, the president of another stock I follow apologized because next quarter's earnings are expected to be $.41. And the share price was only $15.00 per share, so very comparable to ESST. So why is ESST management hyping their stock? And the next year they claim will be "well positioned for strong growth" - based on chips for cell phones (have you heard about the sluggish market for these?), and DVD chips (now there's a product that you can buy cheap over last year's prices).

Just looks too suspicious. But don't think any stock manipulation is going on when the price drops and rises. I've followed ESST for years and this is normal after earnings release. I don't mean it will go back to $6.00 where it was in April, but I won't be surprised to see a fall back to $10 - $11 range soon. Especially when professionals start analyzing these meager earnings compared to the Price to Earnings, and start questioning whether there can really be growth in these markets. Revenue will probably go up modestly in 04, but margins will fall off, just as they did for DVD chips, and earnings going forward will be as pitiful as the 4th quarter projections for this year.
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