Replies to post #269814 on Zeev's Turnips Patch-No Politics (ZEEV)

[chanyu8]

PII - what is your new box now that it's over the high?

[rajaram46]

looks like SNDK will base around 22/25 like you said?

QCOM lookin decent to add, no?

rkb

[mollyagain]

Zeev..do you see sub 1900 today on the NAS??

[bfenton]

Zeev,

Looking to establish initial position in QCOM.

I believe your view is a current box of $70-$74 with possible excursion to $68 area.

You see anything different here around $68.75 area or is this an excellent opp.

[snp]

Are you still in BLTI?

[Bearmove]

Good luck

On a positive note, its my understanding from my headhunting network that alot of business spending and decision making went on hold during the month of June because of the Iraq June 30th deadline. This may explain why many companies are saying that June saw a fall off in business. It may also explain the recent weak earnings reports within tech land. The positive is that business spending and decision making is now back on track in July. What all this means is that we may be seeing a massive buying oppty here in the techs. I'm going to start to cost average into selected techs.

[marketmaven]

AMD- No Q3 Guidance & Looming Price War with INTC

JBHanauer & Co. (AMD) Reit Market Perform AMD reported in line results for Q2, yesterday after the close. Revenues and EPS were in line with expectations at $1.26 billion and $0.09. Flash memory drove growth in the quarter, increasing 7% sequentially to $673 million, while microprocessor (MPU) revenues declined slightly and accounted for the remainder. We are decreasing our 2005 EPS estimates and maintaining a Market-Perform rating - 2004 estimates adjusted upward due to better visibility. Near-term, our estimates for revenues and EPS in Q3 are increasing from $1.25 billion and $0.10 to $1.34 billion and $0.14 as we have better revenue and margin visibility. For 2004, revenues and EPS are going from $5.1 billion and $0.44 to $5.3 billion and $0.54 as Q4 builds off of a higher base. Revenues and EPS in 2005, however, are projected at $5.8 billion and $0.65, up from revenues of $5.6 billion but down from EPS of $0.78. This is primarily due to the on set of what we believe may be an aggressive pricing environment for both Flash and MPUs in 2005, which has affected our outlook for gross margins. We now see gross margins for 2005 at 39% compared to 41%. Revenues for 2005 are higher because they are growing off of a higher base. Guidance is for seasonally normal revenues in Q3. While AMD declined to give a specific growth percentage for revenue guidance, management indicated that seasonal norms may be applied.