Y2K (Year 2000) Stocks: An Investment Discussion Message Board

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Technology Stocks : Y2K (Year 2000) Stocks: An Investment Discussion

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To: paul e thomas who wrote (13065)	10/15/1998 12:36:00 PM
From: IVAN1	Read Replies (1) of 13949

H-P Sees Computer Growth Slowing In '99 Due To Y2K Thought you might find this of interest, Paul. Best, Ivan1 Thursday October 15 11:10 AM EDT ORLANDO, Fla. (Reuters) - Hewlett-Packard Co. (HWP - news) Chief Executive Officer Lewis Platt said that he sees a likely significant slowdown in the computer hardware industry during the second half of 1999. Speaking to an audience of computer information technology managers at a conference here, Platt said the focus on upgrading computers to be ready for the Year 2000 date change would hurt the hardware industry. He downplayed more apocalyptic scenarios such as a freeze on spending and possible social dislocation. ''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.

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