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Strategies & Market Trends : The Thread Formerly Known as No Rest For The Wicked
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To: Junkyardawg who wrote (18351)3/19/1999 8:46:00 AM
From: nokomis  Read Replies (1) of 90042
 
GNSS: Closed 29 7/8, current bid 30 1/8 (Strong buy reiterated):

News Story

GNSS - NASDAQ
On the conference call, Genesis Microchip Inc. (GNSS) dismissed worries about
supply shortfalls for flat-panel displays as well as speculation about a
negative outlook for the market.
Genesis chairman and chief executive Paul Russo said he doesn't expect supply
shortfalls to affect industry estimates that predict how much the flat-panel
market will grow this year and next. Because of the tight supply of flat-panel
monitors, Russo doesn't expect monitor prices will decline, but he doesn't
believe this will slow down overall growth of the market.
Russo said he's "comfortable" with analysts' estimates for the next quarter
and fiscal 2000.
Russo mentioned a recent comment from the Intel Corp. (INTC)-led industry
group called the Digital Display Working Group, which recommended that scaling
graphics chips for flat-panel displays remain inside the monitors, rather than
the personal computer. "We continue to believe the smarts belongs in the
monitor," Russo said. He said he believes the demand for the chips to be in
personal computers is less than 10% of the market.
Claude Hazan, an analyst with C.E. Unterberg Towbin, reiterated his strong
buy on the stock Thursday morning, with a price target of $45 and a fiscal 2000
earnings estimate of 85 cents a diluted share.
-By Scott Adams; 416-943-7804; scott.adams@dowjones.ca
(END) DOW JONES NEWS 03-18-99
11:15 AM

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