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Strategies & Market Trends : Tech Stock Options

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To: donald sew who wrote (57882)	11/21/1998 10:10:00 AM
From: Ramsey Su	Read Replies (1) of 58727

I will be going short Mon/Tue/Wed on individual stocks, depending how the market reacts, looking for a 5%+ pullback. Donald, please take a look at TXN. I think it is exceedingly overvalued from the fundamental side. Given them credit, TI bailed out of the memory business early and cornered the DSP business. Per last qtr's earnings report, DSPs are growing at less than 20%. TI has already cornered the DSPs market so increased market share is unlikely. In fact, it should drop if big boys like LU decides to raise the competition. With one more qtr to go for FY1998 and Friday's close of 76, it looks like they will end up with a PE in the mid-40s based on FY98 earnings. TXN's historical PE is around 21 per zacks. I know the TA on TXN has been straight up the last week or so. Do you see a turning point coming? If so, what do you see as the best strategy? Ramsey

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