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Technology Stocks : Nokia (NOK)
NOK 6.885-1.2%11:43 AM EST
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To: Mephisto who wrote (2777)11/19/1999 9:06:00 AM
From: tero kuittinen  Read Replies (2) of 34857
 
Whoa! Hold it right there - let's nip this evil "fan" mentality in its bud. We aren't on the "Teen Beat" website, though there are threads here that make you wonder. I don't see the big question as whether it's a good idea to get out of Nokia, the big question is when. Loving a stock is a bad move since they rarely love you back. Plenty of smart people could have made a bundle on IBM or Apple at their peaks if they had taken the money and run. Most rode them down and missed the switch to telecoms or data networks.

The strengthening link between Nokia's image and investor perception to WAP and mobile data development is good for short, sharp rallies. But it also raises expectations beyond mere second generation network and handset manufacturing. It means that if there's any disillusionment with the speed mobile internet takes off, we're in for some tough times. It also means that if the internet stock bubble bursts, it may take the "associational" internet stocks with it.

Right now companies are scrambling to link their image to internet as closely as possible. But the good thing about Nokia has been its safe haven status - it hasn't been exposed to outsized nethead expectations. If that starts happening, we're not dealing with the same kind of a "no-brainer" investment as we were in 1998. We'll be in the same jam as the Cisco and Lucent investors.

Tero

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