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Technology Stocks : Intel Corporation (INTC)

INTC 36.78

+2.7%

Nov 26 3:59 PM EST

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To: Tony Viola who wrote (65827)	10/6/1998 12:07:00 AM
From: Barry Grossman	Read Replies (4) of 186894

Cowen's thesis is based upon its belief that enterprise information technology budgets are being readjusted for calendar 1999. Cowen surveyed 22 companies and saw over one-third of the 11 financial services companies responding to its survey changing IT investment projections, which isn't surprising given job cutbacks in money center banks and investment-related financial services companies. I am amazed at how much negativity was injected into the marketplace by the Cowen announcement downgrading Cisco - particularly when I read that this was based on ONLY 3 or 4 companies out of 11 who responded out of 22 financial services companies who were "selected" for this "survey". To base conclusions on such a small sample is ludicrous. The market is overreacting to the slightest hint of negativity. What might happen with a little positive news? Nothing? or ?? Barry

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