Compaq Message Board - Msg: 3602623

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Technology Stocks : Compaq

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To: williet who wrote (19392)	3/4/1998 7:54:00 PM
From: Andrew Fenic	Read Replies (2) of 97611

williet, Intel was down over 10% at one point in After-Hours. If the entire NASDAQ follows (as it should; INTC is a bellweather) then a 150 point drop is not at all unlikely. In fact, I would almost say it is expected. Investors HATE any surprises. You can bet there will be a huge sell-off tomorrow in all the PC-related tech issues. I would hold off on your CPQ buys until near close. On minor news there is often a drop and then a rebound. As news of this magnitude disseminates, however, we may see a continuous drop with lots of trading halts. Anyone who thinks it can close in the $30's is way too optimistic. It was trading under $30 today with no known news. Add the INTC debacle and there's nowhere to go near term but down sharply. And again the fact that Intel specifically cited weak OEM demand is very bad for Compaq. With CPQ already in a sell-off prior to the news the impact could be devastating. I think after-hours $28 is just a taste of the carnage tomorrow. You'll certainly be able to buy in a $26 tomorrow and IMHO $24 or less is not at all improbable. It's an ugly situation.

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