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Technology Stocks : Spansion Inc. -- Ignore unavailable to you. Want to Upgrade?

To: PChips who wrote (3543)	3/12/2008 9:10:53 AM
From: BUGGI-WO	Respond to of 4590

@PCChips What really surprises me every day is, that the market is paying so much less for SPSN compared to our (indirect) peer group. As said, I'm seeing QI and MU (DRAM + NAND) as companies, which should be a guideline how memory stocks could be valued. Just look at QI, which lost over 500Mio. (nearly 600 with writedowns) alone last quarter. I assume they will loose this quarter nearly the same amount. Even the fresh 200+ injection will be lost a in short period of time and cash is running away fast. qimonda.com I think book value at the end of Q1 will be around 2300Mio. and at 1900-2000 at the end of Q2, which translates into roughly 3000Mio-USD. Marketcap. in such a "desaster-mode" is just over 1,5B -> price/book (forward) = around 0,5 which is btw. already extremly low. Lets look at SPSN -> P/B now at 0,21 - even if we take some losses into account, it will not be as bad as 0,25x looking 2 quarters forward. So, its easy to spot, that QI is 2x more expansive compared to SPSN an QI looks from an business standpoint much much more worse. I think they are now probably in the worst condition for all the major Tier1 DRAM guys. So, even if we take such bad assumption as a SPSN guideline, SPSN should be valued around 5$ and we haven't spoken a second about SPSN leadership position or the ratio when we look at MU. That said, I stand by my old number, that Spansion should be valued NOW! in the broad range of 6-8$. BUGGI

To: PChips who wrote (3543)	3/12/2008 9:13:58 AM
From: PChips	Respond to of 4590

SPSN: Short Interest DN 7.3% to 15.9M at the End of Feb 2008 Wednesday, March 12, 2008 06:00ET According to new short interest data from NASDAQ, short interest for Spansion, Incorporated Class A (NasdaqNM: SPSN) DECREASED 7.3% to 15,923,506 shares as reported at month-end February, 2008. SYMBOL MID FEBRUARY END FEBRUARY CHANGE %CHANGE DAYS/COVER -------- ------------- ------------- ------------- ------------ ---------- SPSN 17,169,975 15,923,506 -1,246,469 -7.26% 12 Based on SPSN's 20-day average daily share volume of 1,421,525, it would require approximately 12 day(s) of buying to cover this short interest.