I listened the SUNW 99 Q2 conference call, it's very upbeat, indeed. Every SUNW investor, long or short, should listen. The phone number is : 1-800-633-8284, code:11132658.
This sucker Dan Neils from BancBoston Robertson Stephens didn't even ask any question, I doubt any one from his company even attend this conference call.
In the earning report and during the conference call, SUNW management said again and again that due to the new order entry system transaction, SUNW's customers were encouraged to book more in facial Q1 1999; and in facial Q2 1999, the booking is still up a healthy 6% over last year same period.
This is what Dan Neils called "backlog of orders dropped nine percent sequentially." So this Dan Neils guy is not honest about what the SUNW management said to us, he mislead his clients (also he mislead people in AMD and MU...), so he should be impeached!
As SUNW CFO stated, the combined first 6 months of FY1999 numbers compared to same period of FY1998 will tell the whole story, and forested an accelerated revenue growth in second half of FY 1999.
So the higher stock price is supported by stronger fundamentals and unique competitive environment.
SUNW will hold another Analyst Meeting next week in San Francisco, I believe we will see another wave of upgrades after that meeting.
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