Stupid analyst likes SEG. Probably because he doesn't own the stock.
For Personal Use Only
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URL: cbs.marketwatch.com
PC, chip stocks move higher, finally
Analyst touts Cisco, saying it's safe from Lucent woes
By Janet Haney, CBS MarketWatch
Last Update: 12:04 PM ET Jan 7, 2000
NEW YORK (CBS.MW) -- Personal computer and chip shares finally saw green
Friday, leading a turnaround in hardware stocks.
The Goldman Sachs Computer Hardware Index ($GHA: news, msgs) rose 1.1 percent.
The Philadelphia Semiconductor Index ($SOX: news, msgs), a key barometer of chip and
semiconductor-equipment makers' shares, gained 0.6 percent.
Shares of disk-drive makers and other storage specialists also
advanced, with Iomega (IOM: news, msgs) up 3/16 to 4 3/4 and
Western Digital (WDC: news, msgs) gaining 3/8, or 8.2 percent, to
4 15/16. Quantum's hard disk drive group (HDD: news, msgs) rose 5/16 to 8 5/16.
"Fourth quarter in desktop drives looks pretty good," said Rob Cihra, an analyst at ING
Barings. "These stocks are so cheap, it's not surprising on any given day if there's any
whiff of good news that it floods through pretty quickly."
Cihra said out of the disk-drive group, he would just continue to buy Seagate (SEG:
news, msgs).
"They came out of '99 proving that there the dominate force in disk drives, both in the high
end where they've always been dominate, but also in the desktop as well," he added.
"They sort of set themselves apart from the group at this stage."
Seagate shares gained 1 to 40 11/16. EMC Corp. (EMC: news, msgs) tacked on 6 7/8
to 102 7/8.
Janet Haney is a reporter for CBS.MarketWatch.com.
¸ 1997-1999 MarketWatch.com, Inc. All rights reserved. Disclaimer.
CBS and the CBS "eye device" are registered trademarks of CBS Inc.
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