For all those who believe in the semi report.....read this
Hardware stocks pause
Investors seek proof of industry rebound
By Binti Harvey, CBS MarketWatch
Last Update: 2:15 PM ET Nov 12, 1998 NewsWatch
NEW YORK (CBS.MW) -- Semiconductor and computer stocks struggled to regain forward momentum Thursday, as investors adopted a wait-and-see attitude.
Chip stocks lagged after a bullish industry growth forecast by the Semiconductor Industry Association failed to generate enthusiasm among analysts or investors. Terry Ragsdale, semiconductor analyst for J.P. Morgan, cited the declining credibility of industry trade organizations' forecasts.
"Nobody's semiconductor forecast has been worth the paper it's been written on for a long time," Ragsdale commented. " ... since 1995, the forecasts have always been too high."
This is what I have been saying......take this report with a grain of salt, they are trying to hype their industry, you need to see the big picture, most of you have tunnel vision which will get you into trouble. This stock should be in the 20s due to their current condition, not what will happen 2 - 3 years from now.
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