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Technology Stocks : 3DFX
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To: timbur who wrote (4257)6/18/1998 1:10:00 PM
From: Chip Anderson  Read Replies (3) of 16960
 
More details on the MONT downgrade:

(from "Cognoid1" on the Yahoo board)

=======================
"There were actually 2 First Call notes that came out today on TDFX. One by DLJ reiterating Buy and the other by Montgomery downgrading to
Hold. Montgomery analyst Jonathan Joseph cut his earnings estimates for Q3 98 to .41 from .48, year 98 from 1.90 to 1.75 and 99 from 2.20 to 2.00. Reasons were the following:

1 - Voodoo 2 may be approaching saturation level.
2 - Diamond Multimedia management believes it will order substantially fewer V2 chips in Q3 due to excess inventories and saturation concerns.
3 - Montgomery sees a revenue shortfall of about 10 million dollars due to the cut in orders.
4 - Concern over Intel's i740 and Intel's willingness to cut its prices and how this will affect the Banshee market. Long term competition from Intel.

These were cited as reasons for the downgrade.

DLJ note was very positive however. They view TDFX as very undervalued, on track to meet estimates and likely to release Banshee a couple of weeks ahead of schedule."
===========================

$0.41 this quarter! No way! These guys are total losers. The statement about Diamond MM should be verifiable though - anyone heard anything from a different source?

Chip

P.S. The rest of the Yahoo board is totally devoid of useful info. They even have a jerk up there posing as the ex-Oppy analyst Lenny Brecken going "I told you so!" - what a waste of time.
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