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Technology Stocks : Flextronics International (FLEX) -- Ignore unavailable to you. Want to Upgrade?

To: John Morelli who wrote (590)	3/3/1998 8:58:00 PM
From: kolo55	Read Replies (1) \| Respond to of 1422

Yes, finally some sellers have appeared. I wondered how far it would run before somebody wanted to sell into the strength. The answer was that it ran pretty far, almost breaking to a new high. But the resistance was hit right around the 47 level. I saw Marks at the Robby Stephens conference last week. He seems pretty confident that the company can easily grow 30+% over the next several years. It seemed to me that all the analysts were impressed when Dykes answered a question about funding growth with "Flextronics can grow 30% per year without any equity dilution. The free cash flow covers the CapEx needed for 30% growth and we can finance the working capital requirements if necessary." I didn't see anything really new in that statement, but I guess some figured that FLEXF's growth was mostly due to acquistions, and would slow significantly without dilutive equity offerings. I saw FLEXF took off right after the presentation (11:30 ET) and breakout (12 noon ET) ended on Thursday. Then it went up nicely on heavier volume, but now has retraced all of the gain on lighter volume. I didn't get the feeling that we were going to see upward earnings estimates yet, but my guess is sometime before mid-year the analysts will start ramping estimates up. JMO of course. Paul