Noch ein kleiner Nachtrag.
Seeking an exodus
"I think the biotech/technology sectors will have a
bounce back but then I think it will be tough to continue
higher," Cutler tells me. "The downside seems more the
focus to me. There is too much value and safety in some
of the better names to keep exposure to some of these
other ones high."
For those of us still looking for high-fliers on this, the
first day of springtime, Anthony Gambacorta at
Freedom Capital Management points to one of the
Internet infrastructure stocks.
"We expect the
market for data
services to
expand rapidly
over the next five
years, and the
dominant firm in
this sector is
Exodus
Communications
(EXDS: news,
msgs). Exodus is the clear leader in hosting complex
Internet web sites," Gambacorta, Freedom Capital`s
chief investment officer, tells me.
The Pennsylvania fund manager, a believer in the
concept of enhanced indexing, says Exodus shares can
trade as high as $300 in the next year, or about twice
their current level. See previous column for more about
enhanced indexing.
Gambacorta says Exodus has more than 2,200
customers, including eBay, MSN Hotmail and CBS
Sports. "In 2000, Exodus will be expanding in the Asian
and European markets, which are under-served for
complex hosting services. As a result, the firm`s
revenue should grow approximately 200 percent this
year and increase another 100 percent in 2001," he
says. Exodus, by the way, has yet to turn a profit.
Of course, the question for most individual investors
right now is: Have I run into a wall? Why buy a
technology stock today when it will be far cheaper
tomorrow? Or next week? Or next month?
Gambacorta says at a price of $150 a share, Exodus
trades at 16 times expected 2001 revenues. Other
hosting companies, such as Digex Inc. (DIGX: news,
msgs), have shares that sell for 50 times next year`s
projected revenues, he says.
All well and good. Yet since Gambacorta gave me his
technology pick, Exodus shares in Nasdaq`s rejection of
springtime this week slipped as much as 15 points to
$135 a share. Exodus shares Tuesday morning
rebounded to $147.
And the wall of worry, they say, comes tumbling down.
Stay tuned.
http://cbs.marketwatch.com/archive/20000321/news/current/stw…
Ich hoffe LE CHEF ist schon mit aufgesprungen.....
LTT