Mephisto,
re: Lost Messages. I checked a few other threads in SI and noticed some other folks had similar problems. I guess it's just a periodic glitch in the server.
As far as the semiconductors go, opinions vary as to when we'll see a recovery, although most analysts/money managers do agree there will BE recovery. Mike Murphy of the California Technology Stock Letter (CTSL) thinks we'll start to see it in the December quarter. Other respected voices think it will be 1997 before the blessed event. I don't know but, since Wall Street is supposed to be looking six months ahead, I figure we could see some real firming in the group this fall. Of course, if the Democrats retake Congress, all bets are off. But that's another story.
At any rate, I think MEMC will start to move when the semis move. In part this will because we'll start to get some earnings upgrades for 1997. BTW, saw a post in the Motley Fool that CS First Boston has just projected a six month price target for WFR of $50. Anyone got any further info?
As far as takeover rumors go in the semiconductor industry, the only one I've heard is a potential takeover of Cirrus Logic (CRUS) by Rockwell. I have no idea if it's true, nor do I have a stake in either company. Certainly, the very depressed price of many of the semiconductor stocks, some very close to their book value, would make them tempting targets for an acquirer with lots of cash, like Rockwell. I, personally, wouldn't buy any of these companies based on takeover speculation though. Some do look interesting if you believe that a recovery in the group is just around the corner. I'm going to wait until after the September profit warnings before I jump back in though.
Bob M. |
