NationsBanc Conference Puts Technology High-Flyers in Spotlight
Bloomberg News
January 29, 1999, 4:20 p.m. PT
San Francisco, Jan. 29 (Bloomberg) -- Investors at next
week's NationsBanc Montgomery Securities Technology conference
will be listening for evidence that the recent boom in computers,
semiconductors and Internet software will continue.
Intel Corp., Microsoft Corp. and Yahoo! Inc. are among the
top technology companies presenting at the meeting in San
Francisco. All have reported better-than-expected earnings in
recent weeks as demand for Internet-related products and services
has soared. All three companies also have declared stock splits
as their shares reached records.
Given the huge gains in some technology stocks -- the
technology-laden Nasdaq Composite Index is up more than 40
percent in three months -- some investors say they'll spend some
time seeking bargains that may be overlooked.
''I use the conference to bone up on areas I don't know,''
said Randy Yuen, an analyst at Salomon Brothers Asset Management.
Yuen said he will attend sessions with executives from
software companies such as Germany's SAP AG, the largest maker of
business-management software. The company's shares have fallen 24
percent since Oct. 29 as slow sales in Japan hurt profits.
He also plans to explore computer-services companies such as
Keane Inc., whose shares have fallen about 50 percent since July.
Other investors say they're optimistic that the rally in
other technology shares will continue as the growth of the
Internet spurs demand for PCs, servers and networking equipment.
Semiconductors
Semiconductors have been particularly hot. The shares of
Intel, the world's largest chipmaker, have risen 57 percent in
three months as sales of its microprocessors boomed.
Shares of Micron Technology Inc., the No. 2 maker of memory
chips for PCs, have risen 95 percent in three months as prices
for dynamic random-access memory chips have strengthened after
plunging for many months.
''Pricing is stabilizing'' in the semiconductor business,
said Duane Eatherly, portfolio manager at Banc One Investment
Advisors Corp. in Columbus, Ohio.
Keynote speakers at the conference include Oracle Corp.
Chairman Larry Ellison and Terrence Conn, chief executive of
Ticketmaster Online-CitySearch Inc. On Wednesday, there will be a
panel of venture capitalists.
About 1,600 analysts and investors will attend company
presentations, including those from technology bellwethers such
as Micron, Texas Instruments Inc., Cisco Systems Inc. and Hewlett-
Packard Co. There are 152 public companies and 60 private firms
attending. |
