Kemble, FYI! :)Leigh
austin360.com
March market madness
Associated Press
Monday, March 20, 2000
Forget about college basketball. The real March Madness broke out last week in the stock market.
Technology stocks, which had shot up to stratospheric levels in recent months, were trampled. The Dow Jones Internet Index dropped 8 percent. Blue-chip stocks, given up for dead earlier this year, roared back to life.
Ultimately, analysts expect technology stocks to resume their leadership. As companies begin reporting their first-quarter earnings in mid-April, most market watchers expect established technology companies to outperform their "old-economy" brethren, while Internet companies that aren't profitable will at least show rising revenues.
"The Nasdaq stocks -- computers, networking, the Internet -- are the ones that are really changing the world," said Charles Pradilla, chief investment strategist at SG Cowen Securities in New York. "For the most part, we still want to be in tech." |
