A lot of it really is earnings driven. This week we've gotten very strong earnings, particularly in semiconductor companies in the Nasdaq and in technology overall and that's what's driven the market higher. |
A lot of people were pinning their hopes on Vista to drive a PC upgrade cycle this year. |
As we get closer to the potential March 17 deadline, people who think we're going to get a wartime rally may try to get ahead of it, but I think any sort of rally we get will be short-lived. |
Consumption will become a bigger part of the economy. |
Consumption will become a bigger part of the economy. More and more people are seeking consumption plays as opposed to commodities. We are an early adopter in that regard. |
Expectations on Wall Street got way ahead (of themselves). |
I don't see Cisco as a growth story right now. |
I don't see it happening. |
I still don't think that the tech outlook is all that great. This rally is based on sentiment, not fundamentals. |
It looks like they're still getting some halo effect. |
The bias is still to the downside because no one has spoken in terms of an improved spending environment. The [second-quarter] estimates were fairly high with double-digit earnings growth built into a lot of the models. Without spending picking up, we think estimates have to come down, therefore the valuations come down and the stock prices come down. |
The problem that all large pharmaceuticals have now is they have no new products, no new blockbuster products that growth investors are looking for, ... It's looking even worse for '06-'07. So most of the potential now is coming from biotech. |
The stock trade about 17.5 times 2003 earnings. That's at a premium compared with the other apparel companies out there but it's also growing faster than the other companies. |
Their first releases are always filled with bugs, so my guess is corporate users are going to take a long time to evaluate Vista before actually buying it. |
Their primary market just isn't growing, |