More:
>>>>......Integrated Silicon Solution. Jimmy Lee, the founder, had worked at Hewlett....... I just called Jimmy. Asked about the second quarter. He said, "I am sorry to tell you, but revenues are going to be back down in the mid- to high 30s and we are going to be slightly below break-even. Nothing I can do about it. We are beating the competition on leading-edge SRAM. But demand's down."
....Cohu ....back at 25. The second quarter was not bad. Gross margins will be hurt by a new equipment launch. But when I talked to the finance VP out there, he said, "My backlog has died. I don't know what's coming on in the third quarter. We don't have an order book now."
......Novellus, but down 30 points from its peak this year. Think about it. Interestingly, a lot of these companies are selling below book. But it is too early to buy them; there's no earning power. ......... But again, no earnings.
In the technology sector, if you have a two- or three-year horizon, you will do extremely well in those sorts of names. But in the short term, there'll be pain.
Q: LSI, you said, is different?
A: Yes, .......This stock, which I recommended in January, is a giveaway at 23. It is one of the few tech stocks that's up in a down market this month. Word has gotten out that their earning power is holding up.
Q: Have you found another like that?
A: One. It has zero content on the PC. Still profitable. It's here on Route 128. Altron. ALRN is the ticker; 10 5/8 today, .......
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