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Technology Stocks : Dell Technologies Inc.
DELL 133.20+5.7%Nov 26 3:59 PM EST
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To: W.B. Michaels who wrote (73121)10/20/1998 7:02:00 PM
From: stock bull  Read Replies (2) of 176387
 
W.B. Michaels & ALL: Here's what happened today. Got this news release from my broker:

Dell Computer Corp (DELL)
Oct 20, 1998 18:05 ET
Dell says computer demand is strong
ROUND ROCK, Texas, Oct 20 (Reuters) - Demand for personal
computers is strong and is expected to stay that way, a Dell
Computer Corp. spokesman said Tuesday.
"The environment is the same as the one we characterized at
our analyst meeting (on Sept. 25) -- industry demand is solid
and we expect it will continue that way into the foreseeable
future," Dell spokesman T.R. Reed told Reuters.
He said the company sees industry-wide demand growing
around 15 percent annually in the coming years, with Dell
growing faster because of its direct sales model.
Dell shares fell 3 15/16 to 53 5/16 on Tuesday, apparently
on rumors that an analyst at Piper Jaffray had downgraded Dell
stock.
Reed said the company knew of neither a reason for the
decline nor a change in any analyst's recommendation.
A spokesman at Piper Jaffray said the ratings and earnings
estimates for Dell were unchanged, but that there were signs of
weaknesses in technology spending.

I placed the bold emphasis on the word "rumor". IMO, here's a good example of how MM's can drive down a stocks price, and then buy in at the lower price. Just start a rumor.

Any comments?

Stock Bull

PS: CNBC reported that Dell was up 1 11/16 in after hours trading. Can anyone confirm?
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