Joe, I noticed the upgrades and downgrades as well. I think, it just shows the confusion the street has at looking at techs at the moment.
I think under the surface almost everyone feels the techs have been oversold and at anytime can start on it's next big move up, yet on the surface it is choppy with mixed signals in earnings and projections.
I think those giving upgrades are probably looking out at long term investors, to make sure they get in at these low levels and that they will be doing well in 3 years for sure from this point.
I think the downgrades are for the guys who can't wait 6 months.
I think this way the mixed signals make some sense.
As far as Asia goes... I think this comment and analysis is probably going to show the impact of Asia on a vast majority of techs, only a very small number are going to really feel anything substantially worse.
Saturday February 14, 6:56 am Eastern Time
Siemens chairman says Asia no catastrophe
MUNICH, Feb 14 (Reuters) - The outgoing supervisory board chairman of German electronics group Siemens AG (OTC BB:SMAWY - news; SIEG.F) was quoted as
saying on Saturday that the Asian financial crisis would result in a fall in orders but would be no catastrophe.
''We will have to cut our forecasts for new orders in coming years,'' Hermann Franz was quoted as saying in the Sueddeutschen Zeitung newspaper.
But he told the newspaper that even if Asian sales fell 20 percent, this was only equivalent to two or three percent of total business. The company's internationalisation
of its business would continue, he said.
Franz, who will be replaced as supervisory board chairman by Karl-Herrmann Baumann on Thursday, said the company was not at present looking at large acquisitions
on top of recently announced plans to buy Elekrowatt's (ELWZ.S) industrial business and the fossil fuel business of Westinghouse |
