One more skeptic hops on the bandwagon - don't get too excited Cramer . . .
From Today's WRONG! Column:
Despite the fact that we are a week into the pre-announcement season, we have virtually no tech blow-ups. The traditional suppliers of tech snafus -- the drives and the semis -- all seem to be doing quite well. We know from that all-important Credit Suisse First Boston conference that all systems are go for personal computers. We know from the Compaq (CPQ:NYSE) conference call on Monday that business at CPQ, which had been a problem in quarters past, is good. Intel (INTC:Nasdaq) and Microsoft (MSFT:Nasdaq) declared their businesses strong, something that can't really change much between now and year-end, given the pattern of ordering related to Christmas.
The result? You can't go home long the drillers, but you can own personal computers and the accouterments of them right through to January. That's called peace of mind and right now only tech really offers it. That's why, even up here, I am still buying tech with the marginal dollars freed from other, lesser performing, sectors. |
