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Politics : Ask Michael Burke

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To: Earlie who wrote (51294)	3/10/1999 10:07:00 PM
From: Eggolas Moria	Read Replies (2) of 132070

Faber on CNBC: (WSJ Interactive) Yesterday in a report paid scant attention by the market, SG Cowen trotted out a proprietary survey showing PC spending would be down 2% year over year. It downgraded Dell as a result. Of course it was Dell that began a somewhat difficult time for the box makers when it reported a 38% increase in revenues for the fourth quarter. Good, but not as much as expected. Keep in mind however, that Dell's stock is still up nicely on the year, something that can't be said for Compaq. And at least one money manager sees some troubling signs in many tech stocks' recent action:" Richard Hoey, chief economist and director of equity of Dreyfus Corp.: "One striking thing that you've seen in the market recently, even though the market averages are right up there at the highs: notice how many technology stocks are not making new highs any more. You don't see Compaq on a new-high list, you don't see Dell on a new-high list, you don't see Amazon on a new-high list." Faber: "And you may not see Compaq there either for at least the next few months."

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