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Pro-Dex Inc. Message Board

  • pappenheimer pappenheimer Jul 28, 1998 1:57 PM Flag

    crystal ballers

    Monday July 27, 5:06 pm Eastern

    Company Press Release

    Conditions Are Ripe For
    Semiconductor Stocks To Rebound, Analysts Say At Informed
    Investors Forum

    WIRE)--July 27, 1998-- Semiconductor stocks are at lows or
    very close to them and will likely rebound over the
    rest of the year and into 1999, three prominent
    industry experts told attendees at the 3rd Annual Informed
    Investors Semiconductor Stocks Forum Saturday July 25 in
    Santa Clara.

    Those sentiments were affirmed by
    executives of two Silicon Valley chip companies presenting
    at the Forum, 8x8, Inc. (Nasdaq:EGHT - news) and
    VLSI Technology (Nasdaq:VLSI - news) each of whom
    suggested order activity is returning to normalcy after
    significant slides in the first half of the year. Audio tapes
    of the entire Forum are available for $48.95 from
    Informed Investors, 800/992-4683. Transcripts of the three
    keynote speakers, by hard copy or email, are available
    for $25 for the set, or $15 for any individual

    Charles Boucher, senior semiconductor
    analyst at Donaldson Lufkin Jenrette
    (, said substantial evidence suggests the
    semiconductor chip industry is at or near bottom of both its
    long-term business and inventory correction cycles. Capital
    expenditures in the businesses were way down in 1998 and
    should rebound in 1999. Moreover, semiconductor stocks,
    he said, are currently at a steep discount both
    relative to their own price history and the rest of the
    market as measured by the S&P 500.

    ``Semis are
    down about 25% relative the S&P and 46% off their
    52-week highs,'' Boucher said. ``This is the closest to
    full capitulation by Wall Street I've ever seen. With
    record low valuations of these stocks and a bottoming of
    the long-term cycles ... this is a good entry point
    to get into these stocks.

    ``Shipment rates
    in terms of units and revenue are in fact bottoming
    in July and we expect to see that accelerate the
    remainder of the year. What's most important to Wall Street
    is what direction this curve is,'' Boucher added.
    ``If we are correct in our hypothesis, that we are at
    the bottom and there is an acceleration in the
    business, then it's going to drive a rally in the stocks
    that is going to happen in the very near term.''



    Informed Investors
    Sean Finnigan,
    Steve Chanecka or Tim Quast, 916/448-8222

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