That Merrill downgraded MU yesterday. I always do the opposite of what ML suggests. It's served me well for many years. I can pinpoint the date. The day Exxon was found guilty in the Exxon/Valdez case, my ML broker called. The punitive damages amount was equal to a single year's profit ($5B) at that time. He had sold my 4,200 shares of Exxon BEFORE asking me. Most, if not all brokers and analysts are less than honorable as a rule,IMO. Take radio's payola in the olden days as an example. No doubt there are those hard working honest ones...rare, but do exist. Needed to vent and how great to do so in this august group!:O) Happy Holidays to all and here's hoping brokers everywhere won't dislocate a shoulder as they "Churn-Churn-Churn".
I like it! As soon as a new analyst outfit opinion is released, just place your order to do the opposite. After all, these out fits aren't releasing these daily tidbits just out of the goodness of their little hearts, ha! Nor, to bring in business to their firm either, because if that was the angle a whole different set of metrics would appear to judge these releases. No, I'd say their true objective is a hidden agenda to make the investing public act in a way that makes the outfit richer, not the stock buying public. Of course I guess the other side of the equation is that they setting up the landscape for their own institiutional clients shares which often times are majority shareholders in the stocks being pushed. Ah yes, isn't the market grand! Gotta love freedom of the press to the extent that no one can tell what's true n false.....
"The company held a conference call on Friday, notes Jefferies & Co.’s Hyunwoo Doh in a note to clients this morning, during which the company discussed starting construction in the middle of next year “of a new DRAM fab to replace its M10 fab in Icheon,” according to Doh’s recounting of the call.
Doh notes this is a replacement for existing capacity at the M10 facility, “rather than for additional capacity.”