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Technology Stocks : PALM - The rebirth of Palm Inc.
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To: Mang Cheng who wrote (2178)10/16/2000 3:23:07 PM
From: P.M.Freedman  Read Replies (1) of 6784
 
Following Goldman, Lehman goes long:

Lehman Bros. analyst Jeffrey Applegate told clients Monday that the S&P 500
remains "fundamentally undervalued" regardless of "whether the trough in the
market was this week or lies ahead." Applegate said the firm still doesn't think
there is a "serious" inflation problem on the horizon. He noted that core
consumer price inflation is at 2.5 percent, meaning it has "barely budged" since
the end of 1998 when it stood at 2.4 percent. However, Applegate said the latest
spurt in oil prices, which should lead to a jump in consumer prices to 3.5 percent
for the balance of year, is likely to persuade the Federal Reserve to maintain its
tightening bias while keeping a rate increase on hold. He added that the unrest in
the Middle East creates added uncertainty.
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