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Friday, April 17, 2009

Roundup – 4/17/09 ($MU $C $GME $ERTS $NTDOY $SNE $NVDA $GLW)


DRAM prices have been strong recently.  Nice looking chart.


Citi beats “estimates” with their own accounting estimates.  Honestly, I don’t know how anyone can believe in bank earnings at all anymore.  These companies should be reporting on the old standards in addition to the new ones (but they’d never do that because it would defeat the whole purpose of changing FASB rules).

NPD data for the video game industry showed a decent decline of 17% for March.  It’s the first negative variance in several months and probably negative for the stocks (ERTS, GME, NTDOY, SNE).  In related news, GME reiterated their prior earnings guidance of 40-42 cents for the quarter – analysts have 42 cents modeled (GME typically low-balls.)  Nintendo Wii had a 15% m/m decline – this bears watching as production has increased substantially of late.

Pricing of graphics cards could come under pressure as ATI and Nvidia have simultaneous product refreshes.  Pricing is not good in the first place – as the low end graphics market picks up functionality in each revision, the high end advantage becomes less clearly seen.  Not a fan of Nvidia (NVDA) at these prices.

There was a big jump in panel shipments in March, up 28%.  Pricing remains under significant pressure according to most producers.

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