You've repeated the mantra about non-growth a few times now. While NOR isn't supposed to grow anywhere as fast as NAND, every projection I've seen has the NOR market continuing to grow for quite a while. Further, what you're ignoring is the specific metrics of SPSN vis-a-vis the other players in its space and more importantly the value added by MirrorBit as a competitor in other spaces.
First of all, I was not even comparing NOR with NAND. Frankly, there is nothing to compare there. Secondly, what I wrote was in reference to Numonnyx and not wrt Spansion! Thirdly, whether NOR market is indeed growing or not, you can look up the data for last few years and see if there is any growth. Next few years will be no different, Spansion knows this and is trying to evolve itself. Spansion can grow in this market by winning market share from its competitors, which apparently it has done over the last 2 years and may be able to do more in future while Numonyx is searching for its identity;-) I haven't ignored any metrics of SPSN. Obviously, you didn't even understand what I wrote. The Street is valuing Numonyx far higher than Spansion's current valuation and so the Numonyx deal cannot go through unless it is repriced! If it doesn't get repriced, it will die very quickly.
However, it does appear that your view, namely that it's going to be a NAND world, is supported by analysts and the market in general. Personally, I love these kinds of situations, where the market has totally discounted a company for what appear to be spurious reasons at best. Talk about your cut throat competition just look at the NAND and DRAM businesses. At present I like the SPSN proposition much better than either of those other ones.
It seems like I may have pressed the wrong nerve ;-) I am not the one who recommended Spansion to you NOR am I suggesting that you should dump it and embrace NAND! Where you invest and how you invest your money is none of my business, just as how I invest mine is none of yours! Competition is everywhere, whether it is NAND, NOR, DRAM and you should invest where YOU see it fit for your portfolio. If Spansion is not performing to your expectations, I cannot be blamed for it. |
