Limtex--Actually, there seems to be a lot of buying momentum throughout the tech sector right now. Sales to consumers and to business are stronger than had been anticipated earlier, and a growing number of economists see improvements in the economy. In general, SanDisk will move up or down with the semiconductor group, even though its product line responds to different kinds of demand than, say, Intel.
The present state of the market looks good for most tech stocks, SanDisk included, and maybe SanDisk in particular, since it has dropped back significantly from earlier highs. The reason the markets sometimes go up in early January is that during the last week or two of December, a lot of investors are on vacation or just preoccupied with other activities. After the first of the year, one sees renewed interest in stocks that have been battered recently but whose prospects look good.
There ought to be some renewed buying interest in SanDisk the remainder of this week and next, as traders try to get in on the relatively low price before other investors return to the market in January. Just my opinions based on long experience, but really I don't watch these short term moves very closely but keep my eye on the long term fundamentals.
Art |
