This fantastic company is getting way over sold for its fundimentals and transparency.
They already got pounded after warning the very thing they announced a month or so ago - 27 down to lower tewnties upon announcing earnings.
This is fairly priced in to the stock at 22 (but taking out another 20%+ after already droping before is insane) It would have rallyed on the news, if the market was in a longerterm buy mode.
They don't only sell flat screens, they sell many other products as well as new ones coming on line (new solar substraite just announced last week or so ago with no substancial move to the upside.)
Lots of cash
Great and honest management
less then 2 price to book
less then 5 Price to Earnings
Buying back their own stock (not just the company but also the Exec)
Mixed reports make the actual flat pannel sales somewhat vegue
If the the oversold market makes a solid turn instead of testing the previous bottom there should be a nice snap back in the new conviction with a new bull rally next time.
Maybe Jobs will announce something to turn high end buyer market sentiement around- less then one hour - even if he looks healthy it may do the job.
MOHO-(Hopes and Prayers) GLW $17+ by the close today and closer to 18 1/2 by next week. I haven't ever seen this one trade like this. Any other ideas, please post your other reasons for a rally in GLW sentement and price targets.
I am getting tired of this. What did the CEO do put it on autopilot. Hey boss were getting ready to hit a mountain. No buyback ? No words to rally the troops? Stop spending your options and get back to work . BOD you suck!
Don't loose faith, it is what it is, but usually always seems to lag what ever should be due to the large institutions and money managers that may be arbitraging this untill it decidely goes in another direction and all the sellers (or buyers - which are hopefully building not waning with the oversold scholastics) give way to the next resitance level. At this point we have to say so much for fundimentals but I'd still like to see a close above $17 today, that would make my day.
One C2R is enough, please. They killed the street interest in this company with the Citi conference. New out look every 30 days. Can't reaffirm in July, and say never mind the first of September. Thats what the old management did with the fiber glut.