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Technology Stocks : IBM
IBM 293.79-0.9%3:59 PM EST
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To: art slott who wrote (5858)10/29/1999 11:50:00 AM
From: Arrow Hd.  Read Replies (1) of 8220
 
Art, I don't know about smooth sailing the rest of the year but I believe we will have a slow recovery off the 89/90 low. The greatest influence on IBM's stock price are the institutions and the mutual funds, most of whom close their books in October so the bean counters can get the statements out for tax season, have made their decision on whether to own it or not. There will be concerns about the next two quarters but I have to believe that analysts and IR will get their "models" aligned so whatever the new consensus becomes it will be met. Revenue will be a question mark but that was addressed so the correct level of expectation should be in the stock price now. And soon the focus will be post Y2K and the next boom in information technology will be the topic of the day. Though there was every reason to be concerned about Y2K a year ago, today most companies have made the changes and turned the corner. I am not expecting any disasters to unfold in early January. That doesn't change the fact that companies will take it slow so that any glitch can be isolated easily and therefore they will stabilize their environments here in the 4th quarter but we will quickly transition into an environment where the focus is on IT development again. IMHO, I think it will push a new high by next Fall and for that reason I have increased my long position here to take advantage of the next phase which we will see the second half of next year. All of this of course is simply one person's opinion. Many others on the thread have differing views.
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