I am very angry and would like to thrash vlsi ir silly.
I called vlsi a couple weeks ago and they said july was 'as expected'.
exchange2000.com
Two weeks later, an earnings warning? I'm thinking all the longs should
show up at their offices with baseball bats and help hasten their
'restructuring'. Also, that we should get the money back from all
the vlsi family and friends who probably made money trading on this news.
Looking back through my notes, from ~7/15, I found this:
=-==-=-=-=-=
Also, there's the recent IMF projection that it 'seems likely to lead to significant downward revisions to projected global growth in 1998 and 1999 compared to the outlook we released three months ago," Sugisaki told an economic symposium.
***and yet the semi co's are saying things have picked up in June...?????!?!?!!?
=-==-=-=-=-=
Does anyone else remember the news that semi orders were firming up
in June and that Asia seemed to have bottomed? I know vlsi said
this and I think lsi did too..., can't list others.
It seemed to me the indivisual companies would have a better handle
on their biz than the imf, and I invested accordingly. So how could
the imf see what vlsi, et al, couldn't? This stinks like 3 week old fish.
for 'fun' here are some of the highlights from the last conf call:
=-=-=-=-=-=-=-=-=-=
--expect revs up modestly up in 3rd qtr and further in 4th qtr
--pickup of wireless bookings in latter part of q suggests inventory correction over
-visibillity into 2nd half, non-wireless, is limited, consistent w/industry trends
-gross margins were 38%, declining ~3%.
--~60% of revs over last 3 qtrs, this qtr ~50% of revenue
--wireless bookings strengthened significantly in latter part of qtr
--currrently shipping 1st generation bluetooth product
-very strong design win qtr in comm, w/multiple handset wins in cdma, gsm and ??dec?
-progress in base station area, securing 3 design wins
-in networking, several design wins w/gigabit m??ac product?? complex arm based asic for router application
computing and consumer biz (~50% of q2 rev)
-stb biz, up sequentially. ???tv in Japan, and DirecTV in US
-launch of PerfecTV in May, higher acceptance than anticipated, early follow on
-DirecTV bookings have returned after several week qtrs, w/improved market reaction
to a set top box w/vlsi content.
**very optimistic about team and offerings in stb area
=-=-=====-==
Now that sounds like a company worth investing in. And even into
July all was 'as expected'. So, boom, everything fell to crap in August?
I'm not buying it, the story that is, unfortunately I listened to the bile
flowing from the vlsi mouths and did buy the stock.
Apologies for the rantish tone...,
-Kevin |
