Flextronics International (FLEX) Message Board

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Technology Stocks : Flextronics International (FLEX)

FLEX 62.08

-1.3%

9:31 AM EST

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To: Paul Senior who wrote (756)	9/3/1998 2:11:00 AM
From: kolo55	Read Replies (1) of 1422

Wish I knew why FLEXF is dropping. From what I understand, business is OK, there is the new Qualcom JV deal in Brazil, this Q's earnings should be up over last Q sequentially, the Dec Q's revenues and earnings should show significant sequential growth over the SepQ etc. etc. My guess is the support vacuum evidenced in Monday's decline has scared out a big holder. One of the problems for FLEXF has been a lack of liquidity for big sellers. The other possible concern: Now that SANM has warned, SCI and JBL painted somewhat gloomy pictures of their Qs in the previous conference calls, the big guys are looking around to see who might warn next. I am astonished that this stock is trading for less than 10 times forward earnings and for a market cap around $600M. FLEXF has an annual shareholders meeting on September 18, and I think I'll attend. Regarding Lucent; I believe FLEXF picked up some business from them recently. Perhaps the recent severe sell-off in Advanced Fibre (AFCI), about a 7-8% Flextronics customer is carrying over to FLEXF. But the new Qualcom JV will add $200M (50% FLEXF)in Brazil from less than $30M per year previously. Their main manufacturing campuses in China, Mexico, and Hungary seem to be going well. I simply don't know why the big sell-off Monday and today and my timing could improve a lot. But I bought some FLEXF today, along with some JBL this morning. These two stocks have handed me my head over the last several weeks. So you weren't the only guy buying today Paul S. But the sellers are clearly selling a lot more than the buyers are purchasing. Paul

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