Market Gems:Stocks w/Strong Earnings and High Tech. Rank Message Board

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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank

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To: lizard lick who wrote (63168)	9/24/1999 5:41:00 PM
From: Ellen	of 120523

Microsoft's Ballmer Comments Didn't Surprise Some Investors Seattle: Microsoft Corp. President Steve Ballmer's comments yesterday that shares of the world's largest software market and other technology companies are overvalued, which sent U.S. stocks tumbling, didn't catch all investors by surprise. ``Microsoft has a history of talking down its stock price,' said Trent Webster, who helps manage $100 million in assets for the Florida State Board of Administration in Tallahassee, which owns about 11 million shares of Microsoft. ``He's done this in the past -- tempering expectations.' Ballmer said a ``gold rush' mentality had pushed technology stocks beyond their worth, and that the industry's earnings and growth potential didn't match their stock valuations. Microsoft tumbled 5.1 percent, helping to send the Nasdaq Composite Index to its biggest one-day drop in five months. Still, many long-time Microsoft watchers said they're unconvinced that the comments were a warning for slower growth. From Bloomberg news

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