My view is we continue to trade in a sideways pattern for the rest of the year.
More Quotes from David Powers:
When I started looking for a driver, I wanted someone who would be able to market himself and understand what the sponsors are looking for. But I also needed somebody who could win races. We found that in Rod.David Powers
I think, first of all, the semiconductor sector had been oversold. This was one area, the technology market that just did not perform well over the past few months. There is a lot of concern with investors whether or not this current upturn in the semiconductor industry has peaked. There is a huge debate going on whether or not we still have any growth left. And, our view has also been that, yes, we believe this is more of a seasonal slowdown than any prolonged downturn for the industry. So we think there is some legs left in the semiconductor cycle. And as a result, we would be a buyer of some of these stocks,
David Powers
We believe Wal-Mart's growth outlook remains favorable.
David Powers
When we talk with individual investors, ... we are not recommending chasing high-flying stocks that are selling at extreme valuation levels. Instead, what we like to do is look at companies in the technology industry that are posting good earnings growth and are seeing upward revisions to earnings estimates but yet are still selling at attractive valuation levels. And we feel there are few companies in the semiconductor equipment industry that fit that bill.
David Powers
As a team owner I couldn't be any prouder than I am right now, ... Our crew chief Lee Beard, tuning consultant Rob Flynn and all the guys have come together to form a really exceptional team and I feel we are going to bring a lot to the table in Indianapolis.
David Powers
If you look at Motorola over the past couple of years, they've really spent the bulk of their time downsizing, ... But now . . . they really like to focus more on the growth aspect of the equation, and if you look at one of the fastest growing markets in technology, it's certainly broadband access.
David Powers
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