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 : Seagate Technology -- Ignore unavailable to you. Want to Upgrade?

To: DJBEINO who wrote (5257)	7/16/1998 6:29:00 AM
From: Teddy	Read Replies (2) \| Respond to of 7841

A snip from thestreetdotcom: thestreet.com "....Seagate, on the other hand, gave us very little to get excited about. Frankly, the management of Seagate was openly disparaging of the industry it operates in and point-blank threw cold water on the possibility of a turn for the better. In fact, I was grimacing at Jeff Berkowitz, my partner, when I heard this, visibly distraught that Seagate was not about to break out of its range. After Jeff had listened to a replay, I screamed at him : "Why did they feel they had to be so downbeat? Why did they have to point out all of those negatives?" His answer? "Because they don't work at Cendant (CD:NYSE)." Regardless of whether the industry has turned, Seagate is clearly doing better. But every analyst knew that, so we did not garner any new, often motivating, upgrades. The result: a dead stock for now, but a livelier one later, I believe. All of this better-than-expected/worse-than-expected blather is nice shorthand. But in the end there is no substitute for reading the releases and listening to the conference calls if you are going to play the short-term game of divining immediate price movements. But as I outlined in my Intel article yesterday, with both these stocks the short term has never been the real driver. If you think the PC business is going to strengthen you want to own the market share leaders that make PC innards. Both of these companies fit that bill. That's what matters to a long-term holder, and for you long-termers, I didn't hear anything on these calls that would discourage me from buying or holding on." James J. Cramer is manager of a hedge fund and co-chairman of TheStreet.com. At the time of publication the firm was long Cendant, Intel and Seagate. Under no circumstances does the information in this column represent a recommendation to buy or sell stocks. Cramer's writings provide insights into the dynamics of money management and are not a solicitation for transactions. While he cannot provide investment advice or recommendations, he invites you to comment on his column by sending a letter to TheStreet.com at letters@thestreet.com.