Joe Osha
Joe Osha
believe build corrects december estimates high inventory next quarter sometime
While we believe that our December 2000 quarter estimates are intact, we believe that there is a high probability that the inventory build corrects sometime over the next two quarters.
appears company difficulty earnings growth high imagining investor level moving percent raise rate recovery stock sufficient
Valuation for the stock appears significantly high for a company with a sustainable earnings growth rate of 10 percent to 15 percent. We have difficulty imagining any second-half recovery that could raise earnings, and investor expectations, to a level sufficient to keep the stock moving up.
although began believe evidence hard highs hitting late next prices sector stock strongly support
It is very hard to find any evidence of a real end to the upturn that began in late 1998. Although we see little to support semiconductor stock prices during the next two months, we strongly believe that the sector will be hitting new highs before the end of the year.