Joe Osha
Joe Osha
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.
effect
It's not going to effect the company's position.
adopted billion fairly harder loaded practice since wide
It's a little harder in June, because this is an especially back-end loaded quarter. But even so, $6.4 billion to $7 billion is a fairly wide range, and since they've been doing this mid-quarter update, they have adopted the practice of narrowing it down.
although company continue cost executing gross level margin quarter second terms
Although the company is executing in terms of cost control, we think margin contractions at the gross margin level will continue through the second quarter as well, which we had not factored in.
although analog argue current devices feeding frenzy growth merits number outlook prefer products raising shapes upbeat wait year
Although one could argue that Analog Devices' upbeat outlook merits raising the number even further, we would prefer to wait and see how growth shapes up over the year as Analog Devices catches up with its backlog and the current feeding frenzy for Analog Devices products dissipates.
good point
They have a pretty good idea at this point what they're going to ship.
analog building buy deal decision despite fits objective presence ratings rich somewhat specialist stated texas
Texas Instruments' decision to buy analog specialist Burr-Brown fits well with the company's stated objective of building its presence in the analog business. Despite the somewhat rich valuation for the deal, we think that the deal makes sense for TI. We reiterate our intermediate-term and long-term buy ratings for the stock.
buyers company deeply hands intel loss neutral past rating staying stock strong suffers until
For now, we're staying with the neutral intermediate-term rating on AMD's stock until we see how the company weathers the Northwood launch. We are still long-term strong buyers of the stock -- even if AMD suffers at the hands of Northwood it will not plunge as deeply into loss as it has during past Intel offensives.
bigger companies delay holiday impact likely might season selling simple
The disappearance of Vista from the holiday 2006 selling season is likely to have a bigger impact on semiconductor companies than a simple few-week delay might imply.
buy certainly clear customer four gotten improved past point reasonable stuff wants wars weeks
The clock-speed wars have gotten to the point where it's not clear who benefits. It's certainly not the customer who wants to buy 700 MHz stuff at reasonable prices. It has been a problem, but availability has improved over the past four weeks or so.
advise beginning below buying concerns correction globally investors march stocks thesis
The concerns that underpinned our mid-cycle correction thesis are beginning to dissipate, and semiconductor stocks globally are well below their March highs. We would advise investors to begin buying semiconductors more aggressively.