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Peter Hofstra of AIC Limited
1375 Kerns Road
Burlington ON
L7R 4X8
905-331-4242
Peter Hofstra's website
Toll Free: 1-800-263-2144
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Opinions from Peter Hofstra

BUYResearch In MotionRIM-T90.120Had gotten a bit ahead of itself. He likes it in the mid-$80's. It still has tremendous opportunities ahead.b2008-01-23
HOLDNortelNT-T13.080Part of the issue with them is that they really had to get their business reconciled, which meant selling off some of their potentially great future assets that were not making money. This means they will be a much slower growing company. There are probably better overall opportunities.2008-01-23
DON'T BUYSierra WirelessSW-T13.310Prefers companies that are going to be around for the long term. This one fills gaps between technologies. Their kind of market comes and goes. On a big upgrade to wireless spectrum and there is no access to the higher data rates of the new networks they get an opportunity to bring products to market. This makes it a very volatile company. Treat this as a trading stock.2008-01-23
DON'T BUYRF Micro DevicesRFMD-Q2.945Sells products into the cell phone market. Have had some pretty big customer concentration. When they hit it can go very well, but when you are a smaller player that business can disappear very quickly.2008-01-23
TOP PICKSandisk CorpSNDK-Q25.450Flash memory. Quality name but has a lot of volatility. When there is strength in the economy and with the consumer, this is a name that can do very well. There will be a tremendous acceleration of flash memory. They are the patent holder and get royalties off all flash memory made.2008-01-23
TOP PICKSandvine Corp.SVC-T3.900Deep packet inspection for communications going Internet protocol. This can be video, data or voice. They inspect every packet and know what's in there and can prioritize. If you want more high growth in some of the exciting new areas, this is a name to look at. Strong balance sheet.2008-01-23
BUYAdobe SystemsADBE-Q34.330Software producer. Into Web publishing. Getting into new higher growth markets with opportunities to get in front of content creators in all kinds of places. Very high quality name and a pretty good entry price.2008-01-23
CommenteBay IncEBAY-Q28.940Good cash flow producer. One of the surprising things is that Amazon (AMZN-Q) has been able to get more traction with a similar type of platform. He will be taking a good look at this since it is trading off in the aftermarket. It's a matter of getting the price right and what you pay for the opportunity for growth.2008-01-23
TOP PICKCiscoCSCO-Q24.030An incredible franchise. Great global sales force. Much greater than 50% of their revenue comes from outside of North America, so should be fairly resilient to any slowdown in the US.2008-01-23
BUYMotorolaMOT-N10.010Thinks there has been an overreaction on the stock. Expects the company will be split out into the different divisions. Be prepared to suffer through another quarter or two of less than stellar results.2008-01-23
CommentDell ComputersDELL-Q20.120Their presence with the consumer and getting into the retail channel is going better than what most people had expected. Liked the fact that they were doing so well globally. Had never done very well with the US consumer. They still outgrow the PC market in China.2008-01-23
CommentActivision Inc.ATVID-Q24.970Signed with Vivendi to create the world's largest pure-play online and console game publisher resulting in a $27.50 tender offer. Their business has been wildly cyclical and this will give them a subscription business that will stabilize the revenue.2007-12-03
HOLDElectronics Arts IncERTS-Q55.130Probably the strongest player in the gaming industry because they have the biggest diversity of brands. Have recently announced some losses and will reinvest into some mobile gaming and all kinds of new areas. They will do well.2007-12-03
DON'T BUYAppleAAPL-Q178.860A great company but he has trouble with the valuation. They have done at phenomenal job with their products. They need to hit a triple to drive this stock up. At the end of the day, it is still a closed system and that is not what people want.2007-12-03
TOP PICKSandisk CorpSNDK-Q37.910Flash memory cards are becoming the consumers’ media for storing digital images, digital videos and transferring files. Acquired M Systems, which makes thumb drives/USB drives. They are the technology leader and a great retail brand.2007-12-03
TOP PICKWestern DigitalWDC-N27.660A hard drive story. A lot of digital cameras, etc. now have hard drives. They are also the leader in laptops. A massive amount of data is being produced. Video is in the early stages of truly being digitized. They will be a key beneficiary. Hard drive industry has consolidated so pricing is much more rational. Likes the long-term trend.2007-12-03
TOP PICKDell ComputersDELL-Q23.940Has been beaten up. Organization has been restructured. They are making the changes that the consumer wants. Thinks they will announce a $10 billion plus share buyback in the next little while. Good price.2007-12-03
DON'T BUYAbsolute Software Corp.ABT-T37.230Remote security. A great area. Thanks there will be competition aggressively moving into this area. Hasn't been any consistency in earnings. Worth substantially less.2007-12-03
HOLDSAP AG ADRSAP-N51.820Consolidation in the business software industry has become rampant but this company will remain a player. It will continue to do well. Picking up the right assets to make sure they stay relevant in the corporate environment. On his radar screen.2007-12-03
SELLResearch In MotionRIM-T104.760Doing a great job but the valuation is such that they can't do a home run anymore. Got a bit of ahead of itself so he sold his holdings. To believe it is fair value, you have to believe that sales will grow 5X the current level over the next 5 years. Take profits if you are a shareholder.2007-12-03
SELLVMware Inc.VMW-N94.970Virtualization making your hardware look like whatever you need to serve your organization. A much more efficient way to deploy your IT assets. Prefers Citrix (CTXS-Q) valuation. Overvalued.2007-12-03
BUYCitrixCTXS-Q36.830Virtualization making your hardware look like whatever you need to serve your organization. A much more efficient way to deploy your IT assets. Prefers valuation of this over Vmware (VMW-N). Involved in a patent dispute, which is a legitimate risk to keep your eye on.2007-12-03
BUYSprint NextelS-N15.840Stock has been pretty flat to weak. Likes the dividend. Best wireless play in the industry. Functioning at much lower profit levels than the others. Ultimately they can get back to hire profit levels. Trades at a fraction of the multiple of other players so is good value.2007-12-03
BUYMicrosoftMSFT-Q32.920Their office suites and Vista continue to do well and dominate the market. Have grown more than 15% in the most recent quarter and the stock does not reflect that. Dividend is growing.2007-12-03
DON'T BUYNortelNT-T15.710He has been anti- Nortel for the last few years, but is softening his outlook. Not as negative as he was.Tough industry to be in. Believes the stock is closer to the bottom but there are better places to be. 2007-10-16
WEAK BUYDell ComputersDELL-Q27.850He likes it and has owned it. Company has done well in emerging market.They have had growth in Japan and China. Pushing with retail strategy and selling units through Walmart.2007-10-16
TOP PICKApplied MaterialsAMAT-Q20.850He likes the business.Key supplier for solar and flat panels. Company has done well over the last 25 years. 2007-10-16
TOP PICKCiscoCSCO-Q32.290It is leveraged to global economy. The company has the whole system approach. Predicts 15-20% upside from here. 2007-10-16
TOP PICKBest Buy Company IncBBY-N48.630It has a global market. Sells consumer electronic devices. Services are good for consumers and therefore consumers are loyal to the company. 2007-10-16
BUYA Comment -- General Comments From an ExpertA Commentary0.020Large global tech stocks-Global economy is strong. Corporate profits are still good in the US. There is growth in cell phones, consumer electronics, flat panel screen and PC's. Recommends having 12-15% of a typical portfolio in global tech stocks.(min. 5%, max. 20%)2007-10-16
BUYMicrosoftMSFT-Q30.320He likes the stock. It has been flat for a while. There is some concern that technology is moving away from Microsoft. However, Halo 3 and Office Suite have done well. The company has done well, they are well positioned good cash, good evaluation and aggressive with awarding shareholders. 2007-10-16
BUY on WEAKNESSResearch In MotionRIM-T107.560They have had a tremendous run. He did own it and got out a little too early. Company is doing a great job. May be hard to get 8-10% return if entering now. Recommends entering below 80. 2007-10-16
WATCHSandvine Corp.SVC-T5.700This is a good early stage technology Can. company. Provides hardware and software for deep packet inspection. He is becoming a believer in this company. Careful on evaluation. Hang on to it if you own it.2007-10-16
PAST TOP PICKMaxim Integrated Products Inc.MXIM-Q28.260(Down 9.4% since Dec. 2006) Tough holdings for them. They got the business right but the stock wrong. The company has had management issues and was delisted as well. He continues to hang in there.2007-10-16
PAST TOP PICKIntelINTC-Q25.480(Up 23%, Dec. 2006)He is still holding and expecting good things. Still likes it. 2007-10-16
PAST TOP PICKSandisk CorpSNDK-Q47.000(Up 3% since Dec 2006)It is a very volatile stock. The company is #2 for MPV players. They have all core patents. They are retailers as well as manufacturers. Well positioned company.2007-10-16
DON'T BUYCitrixCTXS-Q41.900The company is executing well but going through litigation. The stock is close to fair value and just hit 52 week high. Not a good time to buy . Continue to hold if you own.2007-10-16
DON'T BUYZarlinkZL-T1.390They do input/output high speed systems. Recommends passing for now until they build a sustainable business model.2007-10-16
BUYCorning IncGLW-N25.280Company involved in fibre optics for the flat panel industry. Stock is below fair value. This is a decent entry point. Outlook is strong.2007-10-16
SELLAbsolute Software Corp.ABT-T36.040Good Vancouver company, it has done well over the last year. Evaluation is pretty rich. Might be a good time to sell. Be careful with this one.2007-10-16
HOLDIBMIBM-N119.600Solid mature company will continue to do well. It is a decent company to have for a core holding. Predicts high single or low double digit return.2007-10-16
HOLDYahoo!YHOO-Q26.690He likes the company, it has the most visited family of websites and has tried to diversify. It is becoming more attractive. 2007-10-16
HOLDVerizon CommunicationsVZ-N44.930Good company, pays dividend, Premier operator in wireless industry.2007-10-16
HOLDAdobe SystemsADBE-Q45.670Slightly rich better position then we have given them credit for.2007-10-16
HOLDSierra Wireless (US)SWIR-Q18.470Hold, but get ready to sell.2007-10-16
WEAK BUYEricsson LM TelephoneERIC-Q31.330Vague, (he needed more time)2007-10-16
DON'T BUYResearch In MotionRIM-T224.760You have to believe they will have 25% growth with solid double-digit growth after that. Not sure they can do it. Pretty risky valued.2007-07-09
TOP PICKWestern DigitalWDC-N21.240Hard disc drives for computers. Particularly strong in portable hard drives. There is tremendous growth in gigabytes of storage. In the past, there has been too much competition but has now consolidated into 3 players who are all making money. Under appreciated and has tremendous upside.2007-07-09
WEAK BUYMarch Networks CorpMN-T80.490Got spanked when it lost the Wal-Mart contract. Interested in it and has been tracking it.2007-07-09
DON'T BUYZarlinkZL-T1.900Has not delivered consistent results. Has not seen a history of management being able to expand beyond their core market.2007-07-09
TOP PICKMotorolaMOT-N17.800Retrenching to get their cost structure in line. Think they will ultimately get its sorted out.2007-07-09
WEAK BUYAVX Corp.AVX-N16.980High cash position. 71% is still owned by the Japanese holding company, which has no intention of giving cash back to shareholders. A decent company at a decent value.2007-07-09
BUYMicrosoftMSFT-Q29.870Thinks conservatively it can get to $35. Forecasting 15% earnings growth. Growing dividends and buying back stock.2007-07-09
DON'T BUYSierra WirelessSW-T26.800At the mercy of some bigger players. Too vulnerable.2007-07-09
TOP PICKApplied MaterialsAMAT-Q20.170Equipment provider for those who make the equipment we use. Great way to benefit overall from the spending on technology. Recently moved into solar. Caution, you can get home run quarters and then big misses.2007-07-09
BUYLevel 3 CommunicationsLVLT-Q6.410Just starting to look at this one. One of the few operators that have consistently made money. An area that will probably make sense.2007-07-09
DON'T BUYCelestica IncCLS-T6.770This is an industry that needs to consolidate further. Very low margin business.2007-07-09
WEAK BUYATS AutomationATA-T9.380Into solar. Big auto parts provider. At fair value and there is probably decent upside from here.2007-07-09
DON'T BUYCinramCRW.UN-T25.870Ultimately, the long-term trend is anti-DVD. That market is going to slowly disappear.2007-07-09
TOP PICKSandisk CorpSNDK-Q43.450Flash memory. (Digital cameras and cell phones) 1st market it is going to eat into is the optical storage (CD’s). They have all the key patents.2007-04-30
TOP PICKSupertex Inc.SUPX-Q32.750A high-voltage analog semiconductor provider. This has some tremendous niches to backlight displays in LCD’s. Have lots of long-term visibility. Growth is really materializing now.2007-04-30
TOP PICKBest Buy Company IncBBY-N46.650The best retailer in the industry. Consistently make money but are constantly trying to make it even better. Apple (AAPL-Q) are creating stores in the Best Buy brand.2007-04-30
DON'T BUYCanWest Global Comm.CGS-T10.680Not a strong acquisition target. Likes the business, but recently stepped out. On their transition to Cognos8, it didn't go as quickly as they had hoped and the stock dropped which is when he bought. Pretty much at full value now. Would be interested in the mid-$30's.2007-04-30
BUYNokiaNOK-N25.250Large market share in India and China. If you want to benefit from the wireless growth, this is probably the best way to play it. Price is OK if you are in for a long-term play.2007-04-30
PAST TOP PICKSymantic CorpSYMC-Q17.600(A Top Pick Jun 15/06. Up 13%.) Has the Norton anti-virus, a consumer product, but also into the corporate client with the acquisition of Veritas. Put through pricing increases and the numbers are looking good.2007-04-30
PAST TOP PICKIntelINTC-Q21.500(A Top Pick Jun 15/06. Up 20.3%.) Fundamentally undervalued and positioned to do well in both the near-term and long-term. A Buy.2007-04-30
PAST TOP PICKCiscoCSCO-Q26.740(A Top Pick Jun 15/06. Up 34%.) Still sees 10%-15% upside, but is finding better bargains elsewhere.2007-04-30
DON'T BUYNortelNT-T25.320Good management and they're bringing in real processes. Still not positive one at because of both the industry and Nortel's position in the industry.2007-04-30
DON'T BUYZarlinkZL-T2.430There are some neat niches in the semiconductor market, but consistency of execution and growth in their market just has not been there.2007-04-30
DON'T BUYOpen TextOTC-T25.410Recently bought Hummingbird. Stock has had a pretty good move. Couldn't see the long-term sustainability of this business.2007-04-30
DON'T BUYMEMC Electronic MaterialsWFR-N54.880Silicon wafers. Solar industry has really benefited them. Shortage and high price of “high purity” silicon has created a tremendous run for them. Feels this is a temporary situation.2007-04-30
BUY on WEAKNESSAmazon.comAMZN-Q61.330Just had a very strong quarter. You have to believe in some pretty lofty growth to consider this at this time. Would look for a 10%-15% downside before buying.2007-04-30
DON'T BUYBaidu.comBIDU-Q121.580A Chinese Yahoo and Google. He prefers the western names. Volatile.2007-04-30
DON'T BUYEricsson LM TelephoneERIC-Q38.170One of the better providers of networking hardware gear, but there are just now slam-dunks in this part of the market right now.2007-04-30
BUYCitrixCTXS-Q32.600The innerface when you log in to a network. Have done a great job partnering with Microsoft (MSFT-Q) and are well entrenched. virtualization is now the trend of the networks.2007-04-30
DON'T BUYAlcatel-LucentALU-N13.250The challenge is how much spending will be done in this area. It will be tough. You want better visibility on this market than what there is now.2007-04-30
DON'T BUYAppleAAPL-Q99.800Earnings were pretty good. Guidance was down a little. Have had great success, but their history is not won of continuing successes. Not a good entry point.2007-04-30
BUYSprint NextelS-N20.030Likes the upside from here. Considered the ugly stepsister in the wireless in the US. Has a highly consistent free cash flow stream. Good for the long-term.2007-04-30
CommentAkamai Technologies Inc.AKAM-Q44.080Doesn't know a lot about this one. Buying on dips is a good way of going, but make sure the company is making real money and that there is tangible growth in the cash flow.2007-04-30
TOP PICKWestern DigitalWDC-N17.480The storage market is a great opportunity and the industry has consolidated. Good value.2007-03-22
HOLDAdvanced Micro DevicesAMD-N13.350There is good value in this company. Have really developed some strong products. New management is good. Intel (INTC-Q) is the leader and it will be their game for a little while and he would prefer them, but this stock will give you a good long-term return.2007-03-22
BUYMicrosoftMSFT-Q28.270Continues to have a very strong product roll out. Tons of cash. Buying back stock. Still quite a bit of upside.2007-03-22
BUYCiscoCSCO-Q26.370They have done nothing but execute consistently. Tons of cash. Buying back stock.2007-03-22
PAST TOP PICKIntelINTC-Q19.160(A Top Pick July 10/06. Up 5.4%.) Still likes. Expects a lot more upside.2007-03-22
PAST TOP PICKMaxim Integrated Products Inc.MXIM-Q31.330(A Top Pick July 10/06. Up 7.8%.) Is still buying in the $30's. Good long-term hold.2007-03-22
PAST TOP PICKSymantic CorpSYMC-Q17.170(A Top Pick July 10/06. Up 14.2%.) Made a big acquisition of a storage software company giving them depth to build their corporate customer.2007-03-22
TOP PICKJohnson & JohnsonJNJ-N60.860Feels you can get a double-digit return out of this one. Good opportunities for earnings improvement. Good price.2007-03-22
TOP PICKDell ComputersDELL-Q22.930Have had some problems but as more bad news comes in, the stock has not gone down further. The most cost effective managers in that space. At the bottom and ready to turn around.2007-03-22
DON'T BUYFlextronic InternationalFLEX-Q11.080EMS is an area that he has been shy of. If you were going to get in, you would have to get in on the dips. There is plenty of value in other areas of technology.2007-03-22
DON'T BUYMotorolaMOT-N17.500The razor phones were very hot, which is why stock did so well. However, that was last year's product and you don't buy a stock because of one hot product. They just warned on earnings creating a further drop. They have a lot more work to do.2007-03-22
DON'T BUYResearch In MotionRIM-T158.150Very good company but have competition coming. Their main job is delivering secure e-mail services and the handset is more of a sideline, but they have developed a very good product that is popular. Currently they are fully valued. Just sold his holdings recently.2007-03-22
CommentIBMIBM-N95.190Probably around fair value now which gives a return of 8%-9%. You can buy at around $90. It won't give you double-digit returns but it will be solid.2007-03-22
DON'T BUYCinramCRW.UN-T24.190They are the printers of CDs and DVDs. The long-term trend of that business is declining. There'll be more and more of this business done through the Internet.2007-03-22
HOLDHewlett-Packard CoHPQ-N40.450Was a great value play in the $20 area. Good company and very diversified. Expect you will make a 9%-10% return.2007-03-22
DON'T BUYCerticomCIC-T4.670This is a company that has been able to make cash in certain periods of time, but the consistency of execution has not been attractive to him.2007-03-22
DON'T BUYNortelNT-T28.510It is a very tough end market. Good management team. Still a lot of question marks.2007-03-22
WEAK BUYEMC CorpEMC-N13.530Storage space is a great sector. He owns Dell (DELL-Q), which is in partnership with EMC. This is probably a decent buy, but not a screaming one.2007-03-22
BUYSandisk CorpSNDK-Q43.500Flash memory is going to continue to be strong. Owns a lot of patents. Have very strong retail presence. Very innovative.2007-03-22
DON'T BUYSierra WirelessSW-T16.390Getting some contracts, but the market has learned that it is never as good as it seems to be so stock is weak. Too questionable for him.2007-03-22
DON'T BUYOracleORCL-Q18.490Have been extremely acquisitive. It seems they have been able to integrate the acquisitions quite effectively in the last couple of quarters and the numbers are starting to bear out. At this price, he doesn't feel you are getting rewarded for taking the risk.2007-03-22


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