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Technology Stocks : Semi Equipment Analysis -- Ignore unavailable to you. Want to Upgrade?

To: The Ox who wrote (15703)	6/14/2004 12:47:01 PM
From: Return to Sender	Read Replies (2) \| Respond to of 95574

From Briefing.com: 11:55AM : With last week's gains behind it, the market has elected to take a breather in today's session, spending most of the morning in a steady decline... The Nasdaq has spearheaded the way lower, sponsored by losses in influential groups such as internet, networking, semiconductor, software, telecom, and disk drive... Among the other sectors posting sizeable declines are the REIT, gold, transportation, banking, broker/dealer, housing, cyclical, and retail sectors, to name a few... There are virtually no leaders to the upside, although the oil services and coal sectors are among the few group trading in positive territory... The market's lack of enthusiasm has been tied to concerns over a more aggressive than previously anticipated tightening cycle after several Fed Presidents have indicated that the Fed is prepared to do what it takes, especially should inflation pick up... Accordingly, with the CPI scheduled for tomorrow, and the PPI for sometime this week, the market has exhibited a degree of hesitancy in today's session... In its decline, the Nasdaq has slipped below its 50-day simple moving average at 1979.7, inciting additional selling pressure in the broader market... This morning's economic releases did little to alter the market's somber sentiment and included the Trade Balance report at -$48.3 bln (consensus -$45.0 bln), the Retail Sales report at 1.2% (in-line with consensus), and ex-auto at 0.7% (consensus 0.6%)... Elsewhere, the bond market is on the defensive, with the 10-year note down 8/32, bringing its yield up to 4.83%...NYSE Adv/Dec 648/2498, Nasdaq Adv/Dec 838/2113 10:11AM Nasdaq Composite stabilizes after initial flirtation with 50 day sma (COMPX) 1982.99 -16.88: -- Technical -- The index has held on the initial test of its 50 day sma of 1979.73 (session low 1981.62) but intraday need gains back above 1986/1989 to begin to improve the pattern. Next support is at its 50/20 day exp mov averages at 1974. 9:39AM Biotech HOLDRs holds near March low (BBH) 138.54 -0.39: -- Technical -- The biotech sector ETF has been hit hard over the last several sessions in the wake of the breakout below the May low highlighted last week. The BBH slipped just slightly below the March low of 137.09 (session low 136.95) and quickly stabilized with it currently nearing resistance at its 200 day sma broken last week at 138.63 (session high 138.57). 9:12AM UTStarcom revises Y04 & Y05 guidance based on Audiovox deal (UTSI) 30.55: Co also guides, now sees Y04 GAAP EPS of $1.80 (including $0.05 charge), vs the Reuters Research consensus of $1.86 and prior guidance of $1.85, and revenues of $2.95 bln, vs the R.R. consensus of $2.76 bln and prior guidance of $2.75 bln. Co expects Audiovox transaction to contribute approx $0.15 per share in Y05, now sees Y05 EPS of $2.38, vs the R.R. consensus of $2.36 and prior guidance of $2.23, and revenues of $4.3 bln vs the R.R. consensus of $3.4 bln and prior guidance of $3.5 bln. 7:34AM Standard Micro reports in line, guides Q2 in line (SMSC) 23.439: Reports Q1 (May) earnings of $0.15 per share, in line with the Reuters Research consensus of $0.15; revenues rose 24.4% year/year to $53.1 mln vs the $53.2 mln consensus. Co also guides, sees Q2 EPS of $0.17-0.21, vs the R.R. consensus of $0.21, and revenues of $56-60 mln, vs the R.R. consensus of $57 mln. 6:51AM More Morning News : The Wall Street Journal reports that Iran demanded it be accepted as a full member of the "nuclear club" as the U.N. atomic agency gathered for what may be censure of Tehran... Pakistan arrested 10 suspected al-Qaeda members, including a nephew of Khalid Shaikh Mohammed and eight others believed responsible for a recent assassination attempt against a senior military official... A car bomb exploded at rush hour on one of central Baghdad's most heavily trafficked streets, and an Iraqi civil defense official said at least 12 people had been killed and dozens injured... Police interrogated an Indian businessman extradited from the United Arab Emirates on suspicion of trying to sell Indian nuclear secrets. biz.yahoo.com Michael I agree we have improving industry fundamentals. But why aren't institutional investors buying and holding stocks? Long term you cannot measure valuations successfully in the SOX, or the semi equipment industry, without looking at fundamental valuations, technical analysis and market sentiment. Fundamentally things look great due to improving earnings but what happens if earnings start to slow? Technically they are bad and getting worse at a time when there is very little negative sentiment. Take off those rose colored glasses. Look at some charts! Even on a fundamental basis is AMAT selling at 2 x book value? That would be just north of $10 a share for AMAT. finance.yahoo.com RtS