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Technology Stocks : Altera
ALTR 53.61+1.3%Jul 7 5:00 PM EST
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To: Charlie Smith who wrote (1958)1/21/1999 11:33:00 PM
From: A. Edwards  Read Replies (1) of 2389
 
ALTR share fell on earnings jitters because some analysts were disappointed that the company failed to meet the most optimistic forecasts. MSDW downgraded on valuation (compared to the industry? or XLNX?). CS First Boston on the other hand raises FY99 EPS and believes competitive outlook appears more benign due to positive supply and demand; price target of $80. SoundView reiterates "buy".

Altera's venture partner TSMC's chief (Morris Chang) said on Friday (Asian Pacific time) his company's sales and profit in the first quarter of 1999 will exceed those of the fourth quarter of last year. He also told a news conference he saw a dramatic rise in capital spending in the second half of 99.

Investors should take advantage of any short-term weakness of the stock to build position for a longer term.
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