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Technology Stocks : PC Sector Round Table
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To: Stitch who wrote (1031)10/14/1998 11:20:00 PM
From: Stitch  Read Replies (1) of 2025
 
Folks;

Here is a decidedly negative view:

=Alert: H-P CEO SAYS 2ND-HALF '99 SIGNIFICANT SLOWDOWN LIKELY
Reuters Story - October 14, 1998 15:45

"My own personal view is that a significant slowdown in hardware purchases is likely to result in the second half of 1999," Platt said.

He noted that, as a diversified maker of a variety of electronics products, only 50 percent of Hewlett-Packard's revenues come from computer products that might be affected directly.

"I absolutely agree there will be some impact...there will be some negative impact particularly on server revenue," he said of the large computers used to run business operations.

Platt was responding to an analyst's question before an audience of 5000 at the Gartner Group's Symposium ITxpo 98 conference.

Referring to his own company's growth prospects going into the future, Platt expected revenues to grow in the mid-teens on average, down from the mid-20 percent range the company experienced in the mid-nineties.

He said he was reiterating what he frequently has told Wall Street.

"Our plans going forward do not show growth rates in the 20 percent range," although he added the company may have a year or two of 20 percent plus growth.

"On average plan for mid-teens growth," Platt said
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