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Technology Stocks : WDC/Sandisk Corporation
WDC 157.75+1.5%Nov 26 3:59 PM EST
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To: Stephen Denaro who wrote (4847)2/22/1999 4:52:00 AM
From: Craig Freeman  Read Replies (3) of 60323
 
SD, I sold most of my SNDK shares but am still long. If I badmouth the stock from time to time it's because the P/E is rich and the competition heavy. Not because I think it's a bad company. IMHO, at $6 SNDK was a screaming buy but at $24 it is just another high-risk tech stock. Frankly, I haven't found a winner yet to replace SNDK. The market is generally overpriced and directionless. If the DOW would find it's way down to about 8,500 then I could get excited again.

I did take advantage of Dell's recent fall to pick up some mutual funds that are highly concentrated in that stock. I also bought 100 shares of Disney because if you have to own a Mickey Mouse company, you might as well own the "real thing". And I added a little to my PIR position recently (which I view as a long-term value play.) Otherwise, I've been sitting pat with MSFT and CPQ being the mainstays of a tech-heavy but diversified portfolio.

SNE isn't high on my pick list but their P/E is quite reasonable for a "tech" stock. My sister also has some SNDK and she's thinking about trading it for WAG (also not #1 on my list but an interesting play). I wish I had a list of "hot" stocks but at the moment my inclination is to move toward quality and predictable earnings growth. If I inherited $1M tommorrow,I would put half in short-term munis and the other half in Fidelity's Contrafund (or Contrafund II) and then take a long vacation.

Craig
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