Agree Intel and PRIA intertwined; more Intel bad news may give
us an even better buying opportunity... just remember Intel is
a tough cookie, and in a few years may be leading the way in fast
cheap 64-bit machines with all kinds of fast internet/DSP/video/
audio capabilities, and blowing competitors out of the water...
especially if they can get MSFT to put out a decent OS to run on
it... and PRIA will be supplying them. Or whoever else is giving
them a run for their money.
In the 10Q I see, as of Mar. 29, 19.551 million shares outstanding
and 126.3 million dollars in stockholders equity, which computes to
about $6.46 book value vs. the $14 you stated. I've screwed up
this calculation before on other stocks, but I have the 10q online
now and it looks right. Can someone verify?
(OK, I see that's dealt with in some previous posts, if not quite
resolved)
Over the last
few years, I have not seen PRIA trade close to book even at
sector-wide lows. I'm thinking $10 for an extreme sector
bottom, at about 1x sales; book would take a market-wide crash
(not at all impossible), to say 10-15x earnings, with earnings
below what they are at this cyclical peak (and without the ability
to hide compensation expense in options grants). Actually, in
that case I could even believe PRIA could go well below book, if a
worldwide recession ensued.
I will probably buy before $10!
Cheers,
HB |
