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Technology Stocks : MEMC INT'L. (WFR -NYSE) The Sleeping Giant?
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To: Mephisto who wrote (630)8/16/1996 7:47:00 PM
From: Robert Mayo   of 4697
 
Mephisto/Larry,

Sorry I tool so long to get back to you. Been away from my computer all day.

Just reviewed First Call estimates for MEMC as of August 12. Of the six brokers that cover the stock,two just upgraded their earnings estimates for September and one downgraded. For the December quarter there was one upgrade. For the whole fiscal year there were four upgrades. All these changes have occurred in the past 30 days.

I also reviewed S&P analysis of MEMC and note that the company has an analyst quality rating of A.

None of this means that there won't be more weakness in the stock of course. But we are in a seasonally weak period for the semiconductors and, like it or not, MEMC seems to follow them pretty well lately.

I own several hundred shares and I'm not selling, at least not yet. I don't share the general pessimism that surrounds the group and feel that after we work our way through what will almost certainly be a weak September quarter, the Street will start to look forward to a strong holiday season. Could be wrong, of course. I've been known to blow a few now and then. But I'm not convinced, fundamentally, that the current weakness in WFR will be permanent.

BTW, Larry, are you long, short, or just an interested bystander?

Bob M.
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