..as worldwide demand for hard disks comes in better than expected...
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I have liked Broadway before this crisis especially after it acquired the remainder of Compart in July 2007. This transaction increased the equity stake of its Chairman SS Wong to more than 30% and also made Compart, its most profitable division a wholly owned subsidiary from a 55% subsidiary before.
I have been following Broadway since the financial crisis started and we even managed to get a meeting with its Chairman in Q2-2009. I decided then that it was too early to include the stock as one of my stock picks because the visbility in terms of orders for manufacturing/electronics was poor. Its still poor but following Seagate's recent uprading for revenue forecasts, I believe that even at these price levels, the stock looks attractive. I briefly mentioned its Q1-2009 results in one of my earlier Blog posts.
What has changed ?
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