Thursday, June 05, 2008

AVT Bounces Back

Avnet Inc. (AVT) appears to have enough bouncing power these days to recover from the April 15th 12% drop. Yesterday's closing price of 30.33 could be viewed as a "dead cat bounce", however, the decisive break above the 50 DMA could signal a recovery.

Avnet Inc. (AVT), together with its subsidiaries, distributes electronic components, enterprise computer and software products, and embedded subsystems primarily in Americas, Europe, the Middle East, Africa, Asia, Australia, and New Zealand.

Some of the positive aspects are:
  • Volume at approximately 2 million average shares/day
  • Reasonable book value
  • P/E of just under 10
  • Current price at 32% below the 52 week high
  • Good fund ownership, increasing interest for the past 4 quarters
  • Earnings have risen consistently since '02

This stock could continue its upswing and bring good returns in the next few months.


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