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Technology Stocks : sgs-thomson
STM 28.05-2.8%3:59 PM EST
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To: Sam Insalaco who wrote (67)11/19/1997 3:44:00 PM
From: Mark Savino  Read Replies (3) of 74
 
Sam, I don't know why STM is getting hit so hard one day and then run up the next day. Their must be 2 schools of thought on the company, one thinking that it is in a semiconductor downcycle, and another thinking that they are on the road to a recovery.

I am in STM for the long term and believe that they are making all the right moves to continue growth over the long term, but the stock price is getting very hard to follow due to the large price swings in both directions. I don't think we'll see any long term upward price movement until we see an earnings surprise. I think that the stock is valued well based on 1998 estimates and do not understand why it is fluctuating so wildly.

STM should be a core holding for long term investors, but a lot of money can be made trading it if you can figure out it price movements.
I think that most people would agree that STM is a very strong company with a great future, I'll bet that a lot of shares are picked up by mutual funds between now and the end of January.

Thomson had expected to increase earnings quarter over quarter since the beginning of '97, however it appears their recovery is slower than expected. Has anyone heard the latest predictions for STMs 1998 first quarter? Thanks.

Mark
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