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Technology Stocks : IBM
IBM 306.44-2.0%3:59 PM EST

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To: Robert Scott Diver who wrote (6213)3/1/2000 10:13:00 AM
From: David W. Taylor  Read Replies (1) of 8218
 
One other thing. The majority of analysts as Fleck calls them are simply "dead fish." They know little about what they cover and are often simply cheerleaders for the stock, who issue new price targets to see if the market will like the new number without doing any actual research.

Remember that when interest rates are headed higher, it is easier to reach a reasonable growth rate of around 5-6% after inflation with non-equity investments, so there is less need to pay more for less in the stock markets.

Given the high holding of IBM by institutions, this sum is being done every day and will tend to drive the price of the shares back to regular levels over time.
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