Craig and Steve, The biggest MSFT bulls. Sky is the limit!
biz.yahoo.com
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Acampora said his Nasdaq forecast -- that the index could move up to 4,800 to 5,000 -- was stirring a lot of interest.
``That seems to be an eye-opener. People are saying 'Aw, come on Ralph, how can we get there?',' he said in a conference call with reporters to debut his stock targets for 2000.
Acampora is a technical analyst, meaning he uses charts of past stock performance for the most part, and not fundamentals such as sales or profits, to make his forecasts.
He said many technology stocks that have been sitting still for some time as others have rocketed are now ready to go up. For instance, he said, Microsoft Corp. (NasdaqNM:MSFT - news) is poised for a huge move up.
``I (expect) a rotation with the top stocks. Microsoft for most of this year was flat. Only last week it made a new high and it's beginning a new move up. I think it could be at $200 by the end of the year and Intel is on the doorstep of making a new high,' he said.
Microsoft shares are currently at about 115. Acampora also likes online auctioneer eBay Inc. (NasdaqNM:EBAY - news), Internet firm Inktomi (NasdaqNM:INKT - news), and biotech company Immunex Corp. (NasdaqNM:IMNX - news).
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