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November 2, 2005

SpeculatingStocks.com Stock Pick: Symantec Corporation (SYMC)

Stock Price: $19.37


Symantec Corporation is a provider of software, appliances and services designed to help individuals, small and mid-sized businesses, and large enterprises secure and manage their information technology (IT) infrastructure. The company operates through five segments -- consumer products, enterprise security, enterprise administration, services, and products nearing the end of their sales life cycle.

SYMC fell today after cutting its sales forecast for fiscal 2006 by $130 million to $5 billion. This is a similar situation to NVDA when we first released it as a stock pick back on August 6th of last year. NVDA had a huge one day drop after reporting poor earnings. NVDA bounced back strongly as large companies usually do, and so will SYMC.

SYMC is now oversold due to an overreaction by investors to this mere $130 million of sales decrease in the grand scheme of $5 billion. This will be behind them and will now leave room for improvement in the company and stock price. SYMC is 90% held by institutions, some saw a risk and fled. They just created an opportunity for everyone else.

 
     
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