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Technology Stocks : LSI Corporation
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To: Tech Watcher who wrote (13855)7/24/1998 12:18:00 AM
From: Hightechhooper  Read Replies (1) of 25814
 
Well, as I said earlier I think they really did an excellent presentation this time around. They deserve high marks in that area. Unfortunately, the near term does not look nearly as good as projected 3 months ago. Q4 will be just too scarey for people to get out in front of IMO. I expect Q3 estimates to fall to the 22 cent range and Q4 fall to 18-20 cents. The fact that they are bringing that fab online in q4 with no visibility into revenues is not good. That issue was the one that seemed most important to the analysts.

There is no telling if the short term bad news is in the price already. The only reason anyone would recommend this now if from a valuation perspective and that is a tough sell with the whole industry out of favor. Regardless of where it trades tomorrow, it is definately going to settle in a range until the special symbios conference (I love that idea and it shows they have been listening and they now realize that no one understands why they did that deal and they need to invest some time educating) which will move it up a little then a new trading range until gresham's capacity is more fully absorbed. It is likely 6-9 months from getting into a faster uptrend.

Looks like I'll be writing a lot more calls in the next 6 months
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