How high will Microsoft fly? Message Board

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Technology Stocks : How high will Microsoft fly?

MSFT 478.70

-2.7%

3:59 PM EST

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To: Harvey Allen who wrote (53416)	11/18/2000 12:34:14 AM
From: Dave	Read Replies (1) of 74651

Re: Fidelity fund managers dumped 66 million shares worth $5.2 billion in the second quarter [and] bought 26.6 million Microsoft shares in the third quarter... at $1.6 billion You'll notice that on average they sold at $78.79 and bought back at $60.15. Not bad timing! Of course, net-net, they still dumped 40 million shares over the last two quarters, and maybe that explains part of MSFT's poor performance over that period. The next action to watch is from Janus, which according to a recent Wall Street Journal article has 47% of its holdings in tech. Of course they don't want to sell now, hoping that the slumping prices will go back up, but as people sell off their losing Janus funds, Janus will be forced to sell. I believe (but don't have any figures) that Janus still holds a lot of MSFT. So their effect on MSFT could be interesting. Dave

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