Qualcomm stock is up 13.2% this year, and 42.2% during the past 12 months. Market capitalization has...
Murphy's Flash Buys
04/18/2003 12:00 am EST
"Now is the time to reinvest in three stocks," says Michael Murphy, editor of Technology Investing. "These stocks are attractive buys right now for two main reasons. For each of these companies, bad earnings news or lackluster guidance is already out, and investors are discounting the worst."
"Buy Applied Materials (AMAT NASDAQ), under $16. I'm looking for $21 by the end of the year, with a move to $28 in 2004. The company has already announced a significant restructuring to bring down costs. This remains a core holding in every sense of the word, among semiconductor firms.
"Also buy Texas Instruments (TXN NYSE) under $18, with a target of $36 by the beginning of 2004. The firm is Nokia's major supplier of digital signal processors. With their exposure to wireless, DSL, and electronic consumer products, TXN will be an early beneficiary of an upturn.
"Finally, buy Nokia
under $18. I'm looking for $21 by the end of the year, with a move to
$28-$30 in 2004. Its recovery should come in two stages-
the cell phone business should pick up and wireless
network equipment should follow as business gets better access to capital next
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