Harry Newton provides a report from the field...
<<...8:30 AM. Thursday, January 9, 2003: It was a decided pleasure to sit in the audience at the Needham Growth conference yesterday and listen to tech company after tech company talk for 25 minutes on how their business was improving, how they had refocused their business, how they had continued to create new products, how they had reduced their overheads (through firings, plant closures, etc.) how they had increased their cash hordes, how they had no debts and how, in some cases, they could actually feel demand inching back...>>
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technologyinvestor.com
<<...Will I rush out and buy any of these stocks today based on what I heard yesterday? NO. That wasn't what yesterday did for me. What it did, however, was it told me:
1. Tech is definitely coming back.
2. There is a serious and growing demand for the products of leading tech companies.
3. Tech companies are continuing to innovate and do it seriously.
4. Most leading tech companies have enough cash to make it through.
5. The "logic" of the tech business is improving, with more standards, less custom design and more outsourcing.
6. Growth in future will be slower.
7. Most tech companies can now, or will soon be able to, make money with lower, slower sales.
8. Get used to it. It's a new tech world.
9. I need more research and thinking before I start buying again.
10. It's definitely worth my while to go back to the conference and listen to more presentations. And I will today...>> |
