I am sorry if I misunderstood your statement, but I found it to be a little misleading. Let's not dwell on it though...I really hate it when people argue about things like that, which are so meaningless to the stock or company.
Anyway, about the 3rd quarter. Currently, there is obviously concern about a slowdown in Iomega sales. However, unless 3Q earnings are SIGNIFICANTLY lower than expected, I would look for Iomega to move up. After analysts finish making negative comments on the upcoming earnings, there is only room for positive remarks on this stock.
Also, while perusing the web today, I went to GATE's fantastic web site. While finding out the price of a custom system my friend is buying, I noticed that they offer (as their only backup tape option) the Iomega Ditto drive. Is the ditto an industry standard? I'm sorry if I sound ignorant, but the ditto just doen't get the attention of Iomega's other products. Just to plug for my company (GATE), their computers come up A LOT cheaper than Dell or Micron's, for the same or equivilant add-ons.
Back to IOMG. Basically, my feelings remain the same on this issue. It would still seem that it has room for a correction back to the low twenties and even as low as the mid teens. This could be indicated by a drop off in volume coupled with, obviously a down trend. This is my extreme short term outlook only! After earnings release, I think no matter where the price is, it will probably go up for the next quarter or two.
Well, good day-trading for now,
-Brian |
