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Politics : Ask Michael Burke

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To: Knighty Tin who wrote (64510)	7/14/1999 12:43:00 PM
From: Earlie	Read Replies (5) of 132070

MB: Sorry I have not been on the thread of late. Have been on the road a great deal. Latest trip suggests that the PC environment is an absolute disaster. Couldn't find a single shop that had sales results that were anywhere near last years's numbers (and they were a disaster compared with the preceding year). At the corporate level, NOTHING is happening. The retailers are slowly but surely converting former PC shelf space over to other goods. Software sales are negligible and peripherals are given away to make the PC sale. Personally, as bad as it has been for the past year, and as bearish as I have been, this trip suggests that the PC environment is cratering at a rate that none of us ever expected. Hickey's use of the term "Nuclear Winter" is apt. I caught your note on Intel and I totally agree. The numbers were, as both of us expected, a complete mess. Hard to understand why the stock has not gone off a cliff. I'm particularly concerned with Intel's inventory levels. AMD also has micros stacked to the florescent lights and heaven knows what they are going to do with them. This whole scenario has become macabre. No matter how lousy the earnings of the tech darlings, the stock prices remain in the nether regions. One of these days a big fund manager is going to decide that he has had enough and the whole darned house of cards will tumble. Best, Earlie

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