Well Mr. TW,
That's what happened over a couple of months in 2000. Ran it to $32. It was a real knock out... I stopped holding my breath for a "Round #2" back in 2005.
If I had to guess when we'll get another shot at that apple it would be in the March - October period of 2008. I won't say why, but I expect both earnings, and "news" events by then, will do the driving. But our three remaining (as of 12/31) high turn-over hedge funds with 400K or more shares will be long gone by then. Based on the last 6 years of quarterly reports their appearances have always hurt the stock price as much as they've helped. We need more Mutual Funds and Pension Fund types who'll hold onto most of their shares for years rather than months.
My guess right now is that Wall Street thinks L'Intel's PCRAM vapor ware is going to subsume the entire memory market as soon as they start production. Once it becomes apparent that this is not the case things will get interesting again. PZT is an interesting ferroelectric with numerous uses including memory, logic, optical IC's, LCDs, print heads, sensors, chip connects. Unfortunately we don't own most of them apparently. But FRAM is going to be around for quite a long time particularly if Fujitsu makes the BFe0 formulation click at 90nm. I now consider MRAM as just a non-PZT flavor of ferroelectric with a huge magnetic sensing circuit attached.
In the mean time I won't buy more over 2.75, but then I don't trade it any more and I have far too many shares already.
I expect to see news of a 2Mb chip from Fujitsu possibly by July but certainly before year end. The interesting question is whether or not they'll use their 180nm fab process lines or the Epson co-developed PZTN formula ferroelectric to make it. Don't expect Wall Street to give it the time of day, but I will.
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