with the global economy resting on a knife's edge, the likes of TXN and INTC warning big the last few weeks, and SILC falling like a rock on yesterday's staggering volume of 12,433 shares, things are getting dicey for SILC here.
and to further compound the issue, SILC is in the middle of a massive symmetrical triangle that has been forming for the past 2 years, and must be resolved by november, when the triangle disappears at around $15.
i'm sure you can guess where my money is on this one: in my brokerage account's cash balance.
Love to have you post that chart wth the symmetrical triangle as I don't see it. Jan 20, 2012 spike tp 20.33 throws this off. In fact any 2 year sym triangle will not hit apex for at least another year or two and it will be closer to 16.50-17 if/when it does. Wouldn't put much thought on this. If it does exist it can just as easily break higher - and likely would by then.
Storage & Enterprise Network spending projected higher for 2012 despite the naysayers...
IT spending to grow in 2012 despite economic woes, says IDC
Software, storage, enterprise network, and mobile device sales help save the day, with IT spending still on course to grow by 6 percent in 2012
By Mikael Ricknäs | IDG News Service
Worldwide IT spending remains on course to grow by 6 percent in 2012 despite the grim economic situation in Europe, thanks to strong software, storage, smartphone and tablet sales, according to IDC.
While 2012 has been a tough year for many IT vendors, they have done better overall than many expected in the first half of the year, IDC said.
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For example, software spending has been robust, even in parts of the world where the economy has been weakest, as businesses hope software tools and applications will help them implement cost-reduction strategies.
The 6 percent growth compares to a 7 percent increase in worldwide IT spending last year. IDC expects 6 percent growth in 2013.
Software, storage, enterprise network and mobile device markets have offset weaker sales in servers, peripherals and PCs. However, the launch of Windows 8 during the fourth quarter should help the PC market recover next year, IDC said.
U.S. IT spending will grow by 5.9 percent in 2012, compared to 8.5 percent last year. However, the strength of the dollar during the first six months of the year means that IT spending in dollar terms will grow just 4 percent for the full year.
Growth in emerging markets is still relatively strong, but has also been negatively affected, according to IDC. In China, IT spending is now expected to grow by 14 percent, compared to 25 percent in 2011.
IT spending is also expected to grow by 14 percent in India and Brazil, according to IDC.
Unsurprisingly, Europe is the laggard with a measly 1 percent growth, despite a robust software market in Northern Europe, and healthy smartphone and tablet sales. Japan isn't doing much better with IT spending expected to grow by 2 percent "before flat-lining again in 2013," IDC said.
Bobby---I'm happy you jumped in. Do you have the same feeling for the market as you do about silc?
Your reference to txn and intl warning don't coincide with the rest of technology---at least not where silc plays. I look at silc and other companies that are in network security, network infrastructure, data storage and the direction data phones are going. This is where their business is coming from and at a 75-90% year-over-year growth rate in data going forward, the need for infrastructure, security and network speed are going to keep on expanding.
It would be nice to hear more from them in the form of press releases and analyst meetings as I think would expand the investor base. This is my only complaint.