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Technology Stocks : Lattice Semiconductor
LSCC 73.62-0.4%3:59 PM EDT
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To: Ben Beale who wrote (318)12/11/1998 7:11:00 PM
From: Platter  Read Replies (1) of 339
 
From Briefing.com.."DAYTRADER) Outside of the Internet arena, stocks typically fall much faster than they appreciate. Which is why hedge funds and position traders are careful to reduce their exposure to many highflying tech stocks during the final weeks of a company's fiscal quarter, also known as "Earnings Warning Season." After riding a stock up 20%-50%, over the course of two months, many investors decide not to risk having those gains wiped out in a matter of minutes by an earnings warning. Today, alone, four Nasdaq-traded stocks have been axed more than 30% on the heels of a disappointing previews of quarterly results. The semiconductor equipment companies and disk drive makers have been particularly vulnerable to late quarter profit-taking, due to extremely limited earnings visibility. For example, the fiscal 1999 (end Oct) earnings estimates for semiconductor equipment leader Applied Materials (AMAT) range from $0.19 to $0.61 a share. Based on estimate range of $0.50 to $0.60 a share, analyst have considerably more confidence in the earnings outlook for Pixar Animation Studios, whose results are about as unpredictable as they get. As the charts of Applied Materials (AMAT) and disk drive maker Western Digital (WDC) indicate, investors have in 1998 consistently sold these stocks off ahead of earnings and piled back into them as the danger of an earnings disappointment dissipated. Just something to keep in mind."
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