Frankly, I’m scratching my head and wondering WTF is HPQ doing? Why are they buying EDS? Yes, I know…to compete with IBM….Uh-huh…..I am doubtful on that one.
When in doubt, I sell. So I’m selling [[HPQ]]
Right now I’m still feeling that tech is a good value. My “pistola to the head” pick, if I had to choose one tech stock right now, would be Corning [[GLW]]
Corning reported a very solid Q1, despite the slowing U.S. economy. The economy failed to put the homo hammer on the worldwide demand for precision display glass used in LCD TVs, and desktop and notebook PC displays. People of today need three things in life: to be entertained, to waste time on the internet, and sex….and food….four things.
Highlights:
Company management guided higher on its 2008 volume growth forecast for global precision glass demand to the higher end of the 25%-30% range.
Top-line growth in the most recent quarter actually took a backseat to cost containment measures. Gross margin increased by 4.50% sequentially, about 3.50% of that gain was estimated to be as a result of operating efficiency.
A fundamental target price would be $33-$35. The PnF chart, based on the count, is showing a technical price objective of $42. However, that is not in stone, nor is it gospel.
Update: I initiated a position in GLW today @ 25.74 (12:14 ET). I sold HPQ @ 43.70 (12:12 ET)
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