There's no question that the more chip stocks go down, the more they should look appealing. But with that said, I don't think you can go in here and buy things left and right and be bailed out by the cycle anytime in the near-term.
There will be plenty of opportunities to buy these stocks cheaper over the next six months before there is a sustainable recovery.
It's good that management is not going into a shell and saying they want to preserve cash for the rainiest of rainy days since it is already rainy.
It's hard to say how much progress the company's really making.
I find it a little bit comical that Microsoft is going with the lower number, which I applaud, and yet the analysts still want to stick to the see no evil, hear no evil, speak no evil, higher pro forma number.
On paper, marrying content with distribution makes a lot of sense but in reality it's been a tough nut to crack.
It's profit taking. The market loves to do that. Good news hits the tape and investors sell into it.
This dark cloud of high expectations has weighed on the stocks and valuations reflect high expectations.
This doesn't change the size of the pie that people are fighting for. It just makes it more likely that Microsoft will get a bigger chunk of it without the government interfering.
It's very important to get gross margins moving in the right direction.
