Opinions

Michael Smedley Red Hat Inc. RHT-N PAST TOP PICK Sep 22, 2004

(past top pick June 16, 2004. down 32%) Sitting with it, waiting for recovery. Good buy.

Michael Smedley

Owned

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$12.960

Stock price when the opinion was issued

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DON'T BUY

Linux is the story of the future and maybe one of the reasons Microsoft is paying dividends. Corporate area is not spending on software so the stock is down.

TOP PICK

Growth stocks are starting to see some money moving into them in the last little while. This company has been able to grow under the radar screen while the sector has been out of favour. Expects growth to continue.

PAST TOP PICK

(A Top Pick Apr 28/06. Down 10%.) Had expected strength, which did not happen. No longer holds or follows.

HOLD

Historically technology stocks don't do very well at this time of year, especially in Aug and Sept. This one has been the exception. Just broke a key resistance level this week. Going higher when the rest of the sector has been going lower.

WEAK BUY

Little more risk than he is comfortable with so not in his core portfolio but in his tech portfolio. Dominant in the Linux platform. Been threatened as virtualization moves into the X86 platforms. Came out with their own virtualized solution for Linux and looks like it has some traction. Up against some big competition.

TOP PICK

They enable customers to operate in the hybrid Cloud world. They hold the hands of customers to transition into the Cloud which is growing. On June 22, they reported. They have had growth rates of over 20%, but they lowered it to 14% that they blamed on fixed income. He thinks they were moderating investors' expectations after a serious run. He sees 20% growth in the coming year. (Analysts' price target: $167.68)

PAST TOP PICK

(A Top Pick Jul 09/18, Up 31%) IBM bought them, so he hopes IBM lets them flourish. He took a healthy profit.

PAST TOP PICK

(A Top Pick Jul 09/18, Up 34%) It was taken out by IBM last fall when he sold it on Oct. 28, 2018. It's a leader on the open source side. IBM bought RHT as a catalyst to get IBM into the cloud. No, he didn't buy IBM, which he sees as a trade, not an investment.

PAST TOP PICK

(A Top Pick Aug 29/18, Up 27%) Acquired by IBM. He started buying at $62 and was taken out at over $170. IBM needed power to get into the cloud space.

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Michael Smedley Red Hat Inc. RHT-N PAST TOP PICK Sep 22, 2004

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