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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED
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To: Dealer who wrote (21052)11/30/2000 12:23:00 PM
From: in2tech  Read Replies (1) of 65232
 
MSFT also....

Microsoft (MSFT) 59 7/16 -5 5/8: Last night's earnings warning from
Gateway (GTW 17.79 -11.71) confirmed the market's worst fears... The
economy is slowing down harder and faster than expected... And it's not
just a domestic slowdown... The European and Asian economies also
remain sluggish, due in part, to the high price of crude... MSFT recently
made note of the slowing world economy at a recent conference... Though
those comments didn't spark anywhere near the market reaction that the
GTW warning did, they go to the same point... The global economy is
slowing and consumers everywhere are pulling back... The same can be
said for corporations... One look at the Briefing.com Earnings Warnings
page tells you all you need to know about the slowdown in corporate
America... Given that PCs are a discretionary item, it only makes sense that
consumers/corporations would opt to postpone new purchases in times of
economic uncertainty... Of course, that's not only bad news for the box
builders like GTW but for the software companies like MSFT as well... And
you can bet that the GTW news has every MSFT analyst going over his/her
numbers today... Considering the magnitude of the GTW warning,
Briefing.com expects that many of these analysts will begin to trim their
numbers on MSFT in the days and weeks to come... With MSFT already
having blown through minor support in the 62-61 area this morning, such
news is likely to prompt a near-term retest of the 50-48 area. -- Robert
Walberg, Briefing.com
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