Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : WDC/Sandisk Corporation -- Ignore unavailable to you. Want to Upgrade?

To: Ausdauer who wrote (3169)	6/4/1998 1:26:00 AM
From: Michael C. Woodward	Read Replies (2) \| Respond to of 60323

SanDisk stockholders should plan to hold their stock for quite some time if they want to get a return on their investment. I'm tired of waiting, but I will continue to hold my position in SNDK. SanDisk's performance is O.K. However, as other people on this thread have pointed out, SanDisk is in the high technology sector, which continues to be beaten rather badly. I subscribe to Investors Business Daily. Let me just share some of the highlights from yesterday's publication to illustrate SanDisk's dilemma. I read negatives on the high tech sector almost daily. TechStocks Rocked Again as Market Turns Defensive - The Nasdaq index slid 1.8%, its second-biggest loss since the secondary market started to correct more than five weeks ago. It has retreated 8.9% in that period. Intel led the selloff by gapping down 3 7/16 to a 3 1/2-month closing low of 68. Eighteen of the 25 worst-performing groups were computer-related. By contrast, half the best performers were defensive in nature. A sell-off in techs and broad market weakness are part of "a normal correction, primarily due to valuation," said Richard Cripps, Director of Equity Marketing for Legg Mason Wood Walker Inc. "It's obviously been driven by a concern over the upcoming quarter (earnings reports)." Computer and related issues, including those that hadn't yet been dented by Asian concerns, bore the brunt of Monday's selling. Most of us believe that Asia certainly hasn't helped SanDisk. Yesterdays headings by country. Japan: Autos still hurting - domestic sales fell 2.8% in May Crisis will wipe out stimulus package, see economic growth of 1% this year. Malaysia: Economy shrinks - GDP fell 1.8% in first qtr. Indonesia: IMF downgrades outlook "There will be a con- traction of the economy, which will most likely be followed by slow recovery.