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Technology Stocks : Lucent Technologies (LU)

LU 2.690

+1.9%

3:59 PM EST

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To: Softechie who wrote (19292)	3/12/2002 3:45:14 PM
From: sylvester80	Read Replies (1) of 21876

Former Merrill Fund Manager Meeks Comments on Technology Stocks quote.bloomberg.com Former Merrill Fund Manager Meeks Comments on Technology Stocks By Todd J. Shriber Princeton, New Jersey, March 12 (Bloomberg) -- Paul Meeks, former Merrill Lynch & Co. technology fund manager, comments on technology stocks and possible accounting problems with telecommunications equipment companies. ``We have some serious resistance on the Nasdaq at 2050. There's a lid on the market there and I don't see getting beyond that in this calendar year. It could happen next year when corporations start to crank up spending on information technology.'' ``If you have to be in technology, I'd continue to underweight the telecom food chain because the issue there is overcapacity. I don't see that group coming back for quite a while. I don't see a catalyst to drive that group up. I'm negative on stocks like JDS Uniphase Corp. and Corning Inc. There are some quality names like Lucent Technologies Inc. that can't go much lower.'' ``There's accounting irregularities with some of the companies in the fiber optic and telecommunications industries. They've been a bit aggressive with revenue recognition. I don't know that I want to get aggressive in the era of Enronitis when people are going to be looking at company filings with a fine- tooth comb.'' ``Accounting in this industry is like the Wild West, there's not a lot of regulation. I'm not 110 percent sure they're on the up and up. The accounting in this industry is so discombobulated, it needs to be refined.''

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