Got an alert today! Quickly checked it, guess what,
Lucent Technologies is down
by 20% at a dollar twenty cent after forecasting their 9th straight loss
(more than 20% less revenue than the third-quarter).
It's unbelievable. How would even think
of Lucent even being under 20 dollars three years ago and now it stays
at one dollar today on Friday the 13th?!
The same for Sun Microsystems
guys who experience financial problems as well as majority of other
companies in high-tech industry. Now, I wouldn't be surprised if Sun or
Lucent declare bancrupty next week! Lucent, the troubled network
equipment manufacturer is planning to cut 5000 jobs
by the end of this year and Sun shares fall almost to 6-year low a little
higher than 3 dollars a share.
Is the economy gonna be worse? Many well-known analysts predicted last August
that the slow economy would start to recover by the middle of this year.
Despite the fact that the statement was made before last September's
attacks which helped the market collapse, there barely has been any sign of
recovery so far. What happens now is that people sell their stock to avoid
losing more money seeing the terrible situation and it makes the market
lose value, then more people sell and so on... The sad fact which I'm now
used to see and also contributes to this slowness of the economy, is the
huge number of business lands in Silicon Valley used to be owned by former
dot-commers which are now unoccupied and ready to be leased. Let's keep
our fingers crossed and pray for a take off!
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