By William Trent, CFA of Stock Market Beat
It isn’t quite the same as having a cover story, but we’ll take it. Business Week tells us Why the Chipmakers Are Down for ‘07:
Semiconductor companies may be looking forward to a boom year in 2008, but first they’ll need to struggle through 2007—which is shaping up as anything but great.The beginning of January typically signals a seasonal slowdown in demand for chips used in PCs, digital cameras, wireless phones, and other popular consumer-electronics gadgets. And it usually takes two quarters for that demand to heat up again in anticipation of another tech-crazy holiday season.
We’ve been harping on this theme for months. The remaining question is how far ahead the market will look as the fundamentals (sales and margins) continue to deteriorate. The fact that mainstream media has taken notice may be another signal that it is (at least mostly) played out.
The author may hold a position in the securities discussed. The author’s current holdings are as follows: Long: FedEx (FDX) put options; Intuit (INTU) put options; Nasdaq 100 (QQQQ) put options; Bookham (BKHM; Ballard Power (BLDP); Syntax Brillian (BRLC); CMGI (CMGI); Genentech (DNA); Ion Media Networks (ION); Lion’s Gate (LGF); Three Five Systems (TFS); Adobe Systems (ADBE) call options; IShares Japan (EWJ); StreetTracks Gold (GLD); Starbucks (SBUX); U.S. Oil Fund (USO); Plantronics (PLT) call options; Short: Ceradyne (CRDN) put options; Lion’s Gate (LGF) call options; Dell (DELL) put options; Plantronics (PLT) put options
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