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Technology Stocks : WDC/Sandisk Corporation
WDC 169.99-2.4%Nov 11 3:59 PM EST
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To: Sam who wrote (7040)9/23/1999 7:58:00 PM
From: Sam  Read Replies (2) of 60323
 
Check out this:
Microsoft Pres. Calls Tech Stock Values 'Absurd'

SEATTLE (Reuters) - Microsoft Corp. (Nasdaq:MSFT - news)
President Steve Ballmer Thursday said valuations on technology stocks
have reached 'absurd' levels, and even his own company's shares may
be overvalued.

``There is such an overvaluation of technology stocks, it is absurd,' Ballmer said to a group
of journalists here at a technology conference being given by the Society of American Business Editors and Writers. ``I
could put our own company and others in that category.'

Ballmer's comment came in response to a question about which stories are undercovered by the business media.

Asked then what Microsoft's stock price should be, he said, 'less.'

``I used to believe in the theory of perfect markets, but I no longer believe that,' he added.

Microsoft shares were off $4 at $92.06 in late-afternoon trading on the Nasdaq market.

Ballmer's presentation to business writers included a general overview of Microsoft and the growing importance of the
Internet in its future business strategy. He said he saw the office software business evolving to a service model in which
users would take only certain features over the Internet.

And here is the first post of a whole thread opened to discuss Ballmer's comments:
siliconinvestor.com

Here is another speculation about the late selloff:
Message 11344457

People may or may not recall that a proximate cause of the October crash was then Treasury Secretary James Baker lobbying to take the dollar down. Not that I'm drawing any real comparisons....
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