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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank
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To: Jerry Olson who wrote (114852)10/8/2000 7:50:41 PM
From: Teri Garner  Read Replies (1) of 120523
 
OJ, I agree with your assessment of current market conditions. What the markets are saying now is they are looking beyond this qtr's EPS #'s but rather listening carefully to the conference calls for any potential slow downs in revenue/EPS growth.

In the past, a stock like JNPR would run up 20+ pts easily ahead of earnings. What we are facing now is something that we have not faced in a long while: a potential profit recession, with #'s being ratcheted down instead of up.

There will no doubt be winners from this qtr's earnings. But investors are clearly taking more of a reactionary approach (waiting for the conference calls) rather than bidding up these stocks before the fact. Especially with so many investors burned in the high tech area in the past few wks and the # of big cap techs that have warned.

Again, I think it will be the conference calls that will make or break some stocks. A good example would be MU's report: blowout EPS #'s, but analysts axed it the next morning.

This mkt will remain skittish until we can get some clear guidance as to which way (up or down) profit growth is headed.

There will be several key big cap techs (MSFT, IBM, etc.) that could move the mkts big in one way or another, with the ever-controversial YHOO reporting in a few days.
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