Ken, put MM David Alger as falling into the "favorable light" category. He gave it a favorable mention on CNBC (stop the presses - David Alger likes ALTR...still...ho hum), but IMHO he also made a very blithe dismissal of the Asian fallout.
According to data from Morgan Stanley published in the current Barron's, ALTR derived 26% of its revs. and 26% of its operating profits from Asia.
If he wants to argue that the end markets for final products using ALTR chips, aren't in Asia, fine. I missed the part where he made that argument and I'm not sure how valid it is. Obviously, Asia does comprimise some of the end markets.
And obviously they are selling to OEM's in Asia.
So to leave viewers w/ the impression that ALTR is not going to be impacted by developments in Asia is wrong. There's some uncertainty and risk there going forward and if you can accept it and you view the recent reaction as a buying opp. given your time horizon - that's fine. But you just can't take the attitude that it doesn't matter.
Sorry, it just bugged me when I heard it.
I think it would have been more accurate to say "hey, look, yeah it's an issue, but I think it's overblown...and besides, for some reason institutional investors have a [acute case of priapism] for this stock anyway." <g>
Good trading,
Tom |
