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Technology Stocks : Texas Instruments - Good buy now or should we wait? -- Ignore unavailable to you. Want to Upgrade?

To: Charlie Smith who wrote (2574)	12/18/1997 1:08:00 PM
From: Larry Brew	Read Replies (1) \| Respond to of 6180

Charlie, <<Engibeous and earnings>> Clearly I made a poor comment earlier. I was commenting from memory. I couldn't find documentation, but after discussing with my wife, it was a month or so ago on CNBC. It may have been his CFO who appears occassionally on CNBC. It fell somewhere between Kurlak's 1st and 2nd downgrade to TXN. Wish I hadn't brought it up, but the numbers I presented yesterday tend to reflect the trend regardless. Earnings should be out in a few weeks. If you track economics it's getting pretty clear corporate America growth for 1998 will be only around 5%. Technology is in a real squeeze for earnings and there's no reason to see TI as an exception. Many companies are planning work force reductions to boost earnings and plan to reduce capital expenditure. I SPECULATE TI will also reduce expenditures, but not employees. It should be to short term of a correction for TI not to be able to maintain it's workforce. Assuming your a TI'er, you will see a leading indicator if TI cuts back it's positive staffing program. Maybe it's already happened. Inputs as these from employees is always a positive for investors, but there's also that fine line of propriortary information and TI is more closed mouth than most others in the tech sectors. I've no problem supplying the company fundamentals I have access to, but if I say I think TI stock may fall to 30 - 40, it doesn't have any more substance than any other input. This market's badly needed a correction as PE's were becoming way too high causing a very damaging ' wealth effect' to the economy. Larry