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Technology Stocks : Micron Only Forum
MU 242.31-6.2%2:32 PM EST
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To: DavidG who wrote (27926)2/6/1998 4:46:00 PM
From: Platter  Read Replies (1) of 53903
 
First QCOM, now SFAM, who is next Asia..and earnings warning season doesn't even start until 2-3 weeks time. (2/6/98 4.21 pm SFAM warns earnings will be below expectations due to slowdown in Semiconductor market) Who is next?
Also from Briefing.com "Techs took a breather after racing higher over the past several days... However, profit-taking was orderly and light... As such, look for sector to resume its winning ways no later than Monday... While Briefing still sees material upside in this rally over the short-term, it is important to note that the advance has been driven by a psychological and not a fundamental shift... Without an improved earnings outlook (unlikely considering bearish economic outlook in Asia) or another sizable drop in interest rates (rates currently going in wrong direction), techs will have a difficult time sustaining the current advance beyond the next few weeks... Those stocks which have been carried along for the ride, for no other reason that they were beaten down tech stocks, will be the first to falter... We might have seen early signs of such troubles Thursday when 3Com and Micron Technologies posted sizable losses in heavy trading... Despite their recent gains, both companies still face serious fundamental challenges... Low DRAM prices for MU and excess inventory at COMS... So despite the euphoria surrounding the entire tech sector, we continue to advise using a rifle rather than a shotgun approach to stock selection."
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