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Technology Stocks : All About Sun Microsystems

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To: Mephisto who wrote (15465)	4/16/1999 12:31:00 PM
From: Alok Sinha	Read Replies (2) of 64865

Well, I was wrong about the market reaction to SUN's earnings. I guess everybody was looking for an excuse to sell after recent run-ups, and Lehman's cautionary outlook gave them more than sufficient cause (obviously Microsoft's cautious outlook every quarter is treated differently). I suspect he was trrying to dissuade the Street from raising estimates after such a strong quarter. When the dust settles, I think SUNW will do fine. As the MSDW analyst noted nothing has changed as far as the business is concerned, and based on his advice I bought back another 1000 shares this AM at 56 (in addition to the 200 I bought yesterday). Next buy is below 50 (if that occurs). I guess we have to remember that SUN even after the drop from 145 (pre-split) it is still at 110 (which a couple of months ago I would have considered lofty). The split kind of takes away that perspective. There also appears to be a shift out of large cap tech /financials name into the cyclicals and small cap - but I don't think that is going to last very long. Single digit EPS growth is the best this sector can achieve - but it is a healthy rotation. Regards Alok

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