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Strategies & Market Trends : Zeev's Turnips - No Politics -- Ignore unavailable to you. Want to Upgrade?

To: zturk who wrote (84479)	6/24/2002 7:25:15 PM
From: Steve Lee	Read Replies (1) \| Respond to of 99280

Haven't played TXN for a while. I think it is overvalued despite being a leader in its space. Trouble is that its space does have many competitors, whether inferior or not. Those competitors have plenty of capacity and the end markets, such as wireless, are entering a period of much reduced growth. In that area, I believe Intel wll represent formiddable competition. Even if TXN "win", they will lose. Just as AMD cannot come up with a string of profitable quarters despite being recognised from time to time as having the faster processors. However, I think there are better shorts out there that are overvalued for the same reasons. EG MXIM, LLTC, ALTR, XLNX. I don't see the point in shorting TXN when those other stocks are available so have stopped following it for the time being. If/when it hits $22 I will have another look at it.