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Thursday, February 21, 2008

Analog Devices (ADI) Expects Normal Seasonal Patterns

Despite guiding slightly lower for next quarter relative to consensus, ADI's commentary indicates the end market weakness they see every year following Christmas continued this year. They also expect business next quarter to pick up as it generally has in years past. Orders are up slightly on a sequential basis and they're indicating their consumer business (which go into a variety of consumer electronics) and their digital TV businesses will increase next quarter. ADI does quite a bit of distribution business so I'm not sure how great their visibility is.

I have a friend who says ADI leads the SOX on a longer-term basis so I try to pay attention to how the stock behaves. Guidance down, stock up. A good sign perhaps.

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