Morning mkt notes....
Soundview...
buy the cream of the crop - INTC< ADPT...
stay awa from commodity, like ATML.
ML's Kurlak...
STRONG BTB will get rid of bears. 1.14x for next mo.
Salomon's Erika Klauer says on BTB....
This is the top. they predicted 1.02 - 1.05x.
DRAM prices down 2nd half of Oct.
Oversupply still a serious problem.
Bullish on overall demand.
Strong buy on CHPS, NXM, STM, XICO.
Hambrecht & Quist, Rob Chaplinsky...
Strong BTB driven by strong demand for INTC cpu's and better DRAM pricing. In midst of strongest PC selling season. Q1-97 for INTC should be strong. Favor the FABLESS co's (CYRX?). Faovr INTC (Buy) CHPS (Buy for notebooks graphics), TRID (Buy, better margins), ESST (STrong Buy for low valuation), SSTI (Buy, pureplay PC flash). Cautious on pure commodity. Too early for equipment co. stocks due to continued weak DRAM prices for near term (2 quarters) - but exceptions are Reco's on NVLS (Buy, high speed HDP CVD), and PRIA (buy, productivity enhancement play).
Needham's Hans Mosesmann...
BTB driven by robust PC mkt. REco's are CRUS, CYRX, Bechmarq, Oak Tech.
6 mo. target on INTC is $150, raised estimates. On CYRX: top PC OEM uses GX rpoduct, increased demand for 6x86, new channel mktg program announced yesterday to increase presence in US reseller channel.
Goldman's Moore Chaudhri...
forecast Nov. BTB of 1.15x. strong BTB due to strong cpu orders at INTC. But AMD and CYRX and CRUS also benifited. Strong growth in DRAM orders offset decline in prices.
OpCo's James Poyner... NOTE: this guy is contrarion...
INTC reit. Buy with tgt of $150 (6 to 12 mos.) Doesn't belive BTB is an indicator for strong XMas PC sales. But Corp. mkt strong with upgrade to PPro's.
PS. don't forget - BTB will be replace by GBR (global billings rept.) starting Jan... BTB is only Americas.
PPS. everyone's pounding the tape on ADBE. they love it! i've used Photoshop which is de facto standard in dig. photography and graphic design...in middle of upgrade cycle which is powerful for ADBE s/w. Price tgt $44. (now trading last 38 3/8). |
