Since breaking through $5 late in 2009, MAQ has bounced around a bit. Next impetus has to come from FY result - and so far guidance suggests growth also flattened out a bit after the initial surge into profit. $5 is prob critical tech level here and been tested a bit lately but holding. On balance, it still seems likely that the next move will be up, but not ruling out a retreat given the likely increase in expenses.
...Tudehope pointed to Macquaries recruitment rush where it has doubled its team in 18 months and commitment to never outsourcing overseas.
"We are hiring, we are hiring like there is no tomorrow", he said. "We are buying servers, unfortunately like there is no tomorrow. Id like to buy less and I think HP still likes us as an account".
MAQ Price at posting:
$5.12 Sentiment: Hold Disclosure: Held
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