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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: StanX Long who wrote (64330)	6/12/2002 1:34:45 AM
From: StanX Long	Respond to of 70976

ON24/TheTechTrader.com: Harry predicts Wednesday rally Tuesday June 11, 6:34 pm Eastern Time Brought to you by ON24 Audio biz.yahoo.com

To: StanX Long who wrote (64330)	6/12/2002 9:03:57 AM
From: Alastair McIntosh	Respond to of 70976

StanX, I note that you did not print the whole article about Fred Hickey's views. You ended with: Even with its most recent slide, Intel now trades at nearly 5 times sales, and 33 times 2002 earnings. If you were to take the run rate of its March quarter earnings, the PE would be even higher. IBM, Applied Materials (AMAT: news, chart, profile) , Micron Technology (MU: news, chart, profile) -- each stock carries a consensus analyst rating of "buy." Each has more "strong buy" and "buy recommendations than they did a year ago. Each of the companies represented by the stocks is gaining market share vs. competitors. You stopped at that point. The interesting portion of the article continues as follows: And each stock is headed lower, Hickey says. Of the three, IBM (IBM: news, chart, profile) looks particularly weak, according to Hickey. He says that of all big-name tech stocks, IBM has the least chance of making its 2002 earnings estimates, even though the company will artificially improve earnings with a planned restructuring charge of $2 billion to $2.5 billion. "But I can't make a case for buying any of them," he said. Hickey's comments may appear rash. He's far more pessimistic than many of the market's leading commentators, who see market improvement around every corner. The difference between Hickey and the rest of the crowd is, whether you like what he says or not, he's hard to ignore, since he's been spot-on about the extent of the market's dismal state time after time.