From The Zoo:
Incredible
by: mariobon2000
11/16/00 9:43 pm
Msg: 197204 of 197206
Schaeffer bearish on PCs
Schaeffer Investment chairman is cautious on Compaq and
Nortel
November 16, 2000: 3:59 p.m. ET
NEW YORK (CNNfn) - Bernie Schaeffer, chairman of Schaeffer
Investment Research, said Thursday that he expects Compaq to
lose momentum and the stock price to dip going forward in a
fluctuating PC sector. Schaeffer was also bearish on Nortel and
Qualcomm.
Every day at 1 p.m. ET, CNNfn viewers are invited to call in to
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Name: Vijay, (Location Unknown)
Question: Compaq (CPQ: Research, Estimates). What is your
outlook on Compaq? Is there any reason to believe that it might
get back into the mid-30s or low-40s soon?
Answer: I'm not a CPQ fan, nor am I fan of the PC sector.
Earnings growth is decelerating as the PC becomes even more
of a commodity, and the areas into which the PC makers have
been attempting to diversify have a less promising outlook than
as recently as six months ago. CPQ has good technical support
at about $25, but I would not rule out a move to $20 or perhaps
even below before the shares ultimately bottom. |
