The RF to Light 100 dropped 1% last week, YTD +4% at 2189. Ericsson signs about $1 B deal to upgrade India's Bharti Airtel network. Bharti is 30% owned by Singapore Telecom and 10% by Vodafone.
In the News: Evidence of US slowdown weighs on equities. New house sales are now down 22% year-on-year - the weakest trend in a decade. Equity market falls were relatively modest - still pricing in a soft landing. The average cycle of business expansion in the US during the past 70 years had been 65 months. It is said the US economy is now in month 56 of its current cycle of expansion. Yen slumps to all time low against Euro.
New Highs: CMCSA, LMT, RTN.
New Lows: BKHM, LSI, S.
Market Oversold indicator: no change at 82%
Market Overbought indicator: down to 41%
Top 5 - last week: HEI (9%), Herley (7%), MRV (7%), Anaren (6%), Stratex (5%).
- YTD: Avici (103%), Sirenza (99%), Broadwing (82%), Hittite (81%), Finisar (75%).
Bottom 5 - last week: Atheros (-12%), Vitesse (-10%), LSI (-7%), Amkor (-6%), Cree (-5%).
- YTD: Vitesse (-55%), Powerwave (-46%), HEI (-41%), California Amp (-39%), Juniper (-37%).
by Sectors:
Space & Defense: -1%, YTD + 9%
Communic. Services: 0%, YTD +17%
Network Systems: -2%, YTD -11%
RF Semiconductors: -3%, YTD - 2%
RF Components: 0%, YTD + 8%
F/O Components: +1%, YTD +16%
Miscell.: -1%, YTD + 2%
_________________________________
RF to Light 100: -1%, YTD + 4%