IBM Message Board - Msg: 5971598

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Technology Stocks : IBM

IBM 308.58

+1.8%

Nov 28 9:30 AM EST

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To: Kevin Ose who wrote (3906)	10/9/1998 1:10:00 PM
From: Kevin Ose	Read Replies (1) of 8218

IBM: Big, Blue Rock of Gibralter "The stock market is getting creamed these days, and the tech sector is especially hard hit. Even the premiere high-tech names are falling victim to the bear now. Microsoft (Nasdaq:MSFT - news) , Intel (Nasdaq:INTC - news) and Dell (Nasdaq:DELL - news) are down 20%-30% from their highs, and Cisco Systems (Nasdaq:CSCO - news) is down 35%. But so far International Business Machines (NYSE:IBM - news) is holding up pretty well, down just 10% from its highs and still up 18% on the year. Big Blue is apparently viewed as a safe haven because of its steady, reliable business. There is a saying: "Nobody ever got fired for buying IBM." The phrase normally refers to corporate staff buying computer systems, but perhaps fund managers figure it now applies to buying the stock as well. There is another saying: "There is comfort in earnings." IBM definitely has them, with earnings per share of $6.17 in the past twelve months and a consensus estimate of $7.46 for next year. Since a lot of investors are looking for comfort right now and since there is comfort in earnings, some are obviously finding their way into IBM." fnews.yahoo.com

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