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Technology Stocks : Y2K (Year 2000) Stocks: An Investment Discussion
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To: DD™ who wrote (11418)5/6/1998 11:37:00 PM
From: ThirdEye  Read Replies (1) of 13949
 
Why are Y2K stocks looking so rotten?

I'll take a stab(no one else has): Here's my top 10.

1. Bull market is topping out. Irrational behavior is now becoming more frequent. Insitutions may be hedging positions.
2. Although the Y2K leaders have continued to report excellent earnings, how long can the lofty PE's be justified-even for them?
3. Despite these earnings reports, no company has reported staggering increases in revenue that were expected a year ago.So, "where's the beef?"
4. The size of reported contracts are not huge, as expected. If they exist, they are not being announced.
5. Corporate spokesmen have continued to give the impression that "everything is under control," "we don't anticipate a problem,"...Andy Grove notwithstanding.
6. No corporate giant has shown earnings shortfall that can be directly attributed to Y2K issues, and none are letting on in their SEC docs that it's a big deal.
7. No public disaster or serious business interruption has emerged that can be directly attributed to Y2K.
8. There are so many companies vying for the business, no single company can be expected to emerge in a clear leadership position, even Keane Kong.
9. Even the companies that would be considered leaders are downplaying their reliance on Y2K revenue because being perceived as a purely Y2K company is death.
10. Denial.

At least 8 of the above would need to change to turn things around. IMO.
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