Cisco weak report recently (one of their many the past 8 quarters) pulled down Networkers. Chambers blamed Snowden spy scandal China cutback.
HP since reported their networking sales stronger in China. CIEN reports this Thursday if results are outperform beat & raise as FBR analyst calls for then ZHEN snap back rally will be strong with volume conviction.
Read HPQ analyst report showing these firming as well as printing and chip prices in 1q.
Read today's Digitimes on firmer demand for memory spot and contract pricing. As tech leaders like HP Intel MU get upgraded the recovery cycle healing spreads to buyer confidence and many long-lackluster tech sectors which have aged slow obsolete installed base equipment.
up 2.5% on 115% volumebuzz and up 18% on 2,900% volumebuzz respectively.
As tech spending recovery begins to rise, so will Micron. Old slow energy consuming equipment beginning to be updated with new data centers. With that will come the tablets, laptops, pcs, workstations, servers, etc. Record cash levels of businesses may finally have begun to be applied to make those businesses faster and more efficient.
You spend your valuable time bashing stocks you doubt? If you are going to make public accusations of fraud you had better be able to demonstrate proof.
Cisco is constrained....other suppliers growing. CIEN should rise from here
Cisco's much smaller network equipment rival Juniper Networks said on Thursday that it was not seeing an impact from leaks by former U.S. National Security Agency contractor Edward Snowden about U.S. spying.
"The Snowden effect is not real," Juniper Chief Marketing Officer Brad Brooks said. "Our business continues to grow in Asia Pac as well as China. As we look at that business there we've not seen those types of conversations from our customers."
This is good for Zhone and illustrates the snapback business recovery recently this year.
This index is up 0.3% 10am US Eastern Time leads the US markets today. Weekly chart shows this 247 level is well below its peak Nov 9, 2007 of 300.
Communications sector has recovered the least of the major US market indices since the bottom of the housing crash.
DJ 20 Transports leading markets higher, rising with the 50 tick moving average line. HPQ, AMAT, MU, ZHNE, and some other tech leaders beginning to gain strength.
MSFT now matches 2007 peak and looks heading higher on rising profit and Windows8.1 strong acceptance.
Tech sector rise and Advanced Micro are recovering with the market after being oversold by Analysts who don't cover gaming AMD should have larger surprise upside.
Good for AMD's outlook which may upside further...
Activity in China's manufacturing sector expanded more than expected in October, according to official data and a leading private survey.The National Bureau of Statistics revealed China's manufacturing purchasing managers' index printed at 51.4 in the month, a slight lift on the read of 51.1 in September.Bloomberg economists had expected the PMI to come in at 51.2.
SUNNYVALE, Calif., Oct. 24, 2013 (GLOBE NEWSWIRE) -- Alliance Fiber Optic Products, Inc. (AFOP), an innovative supplier of fiber optic components, subsystems and integrated modules for the optical network equipment market, today reported its financial results for the third quarter ended September 30, 2013.
Revenues for the third quarter of 2013 totaled $23,074,000, an 86% increase from revenues of $12,390,000 reported in the third quarter of 2012, and a 21% increase from revenues of $19,039,000 reported in the previous quarter. The Company recorded net income for the third quarter of 2013 of $5,621,000, or $0.31 per share, based on 18.1 million shares outstanding, compared to $1,892,000, or $0.11 per share, based on 17.6 million shares outstanding for the third quarter of 2012. This compares to net income for the second quarter of 2013 of $4,282,000, or $0.24 per share, based on 17.5 million shares outstanding.
Included in expenses was stock-based compensation of $563,000 for the quarter ended September 30, 2013, $268,000 for the quarter ended September 30, 2012 and $411,000 for the quarter ended June 30, 2013.
Peter Chang, President and Chief Executive Officer, commented, "With the growing demand in data communication, we continued making progress in the business last quarter, and delivered record quarterly revenue exceeding the previous guidance. In addition, profit margins improved and resulted in record profits. The balance sheet continued to strengthen with improved inventory turns and a higher net cash balance."
"Data bandwidth demands continue to increase and the next growth cycle in the fiber optics industry is emerging. While we are pleased with delivering record financial performance for this year, we are excited with the business prospects in the coming years. Even with year-end seasonal effects in the fourth quarter of 2013, we expect revenues in the quarter to be at a similar level, between $21.5M and $23.5M, which would represent 77% to 93% growth..."