Technology News
Sat, 06 Nov 1999, 12:45am EST
Dell Computer's 3-Year Streak Atop the S&P 500 Index Is Coming to an End
By Loren Steffy
Dell Computer Streak Atop the S&P 500 Index Coming to an End
Round Rock, Texas, Nov. 5 (Bloomberg) -- Dell Computer
Corp.'s three-year run as the best-performing stock on the
Standard & Poor's 500 Index is coming to an end.
Dell, the world's biggest direct-seller of personal
computers, is about to turn in its worst stock performance in six
years. Its shares have risen 16 percent in 1999, after more than
tripling in each of the last three years. By comparison, Qualcomm
Inc., the current S&P 500 leader, has surged more than 1000
percent this year.
''This isn't Dell's finest year,'' said Tim Ghriskey, a
portfolio manager for Dreyfus Corp., which owns about 3.8 million
Dell shares. ''They will not be the strong performer this year
that they were in the past.''
Dell hasn't had this poor a showing since 1993, when its
shares fell 53 percent. Even in 1995, its weakest year since
then, the stock rose 69 percent. Dell fell 3/16 to 42 3/8 in
recent trading.
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