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Technology Stocks : Intel Corporation (INTC)
INTC 34.50+2.6%Nov 21 9:30 AM EST
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To: John F. Dowd who wrote (81294)5/21/1999 2:07:00 AM
From: Brian Malloy  Read Replies (1) of 186894
 
There appears to be continued worries about inflation hurting tech stocks. The drop hit technology in the last thirty minutes. I don't think it signals a major change. In fact this little sell off especially in the semis could mean we are going higher.
Message 9628552

From CNNFN
Techs lack resolve

In the stock market, technology shares found it difficult to regain bullish momentum after a narrowing growth outlook and profit margins at major computer maker Dell (DELL) sparked selling throughout the computer sector Wednesday.
On Thursday, the weakness continued, pushing shares of Dell rival Compaq (CPQ) down 7/16 to 25-9/16 while Gateway (GTW) shed 3-13/16 to 61-1/4 and Dell itself lost 1-9/16 to 38-1/4. Among Dow computer makers, IBM (IBM) gave up 2-7/8 to 233 but Hewlett Packard (HWP) gained 3-1/6 to 94.
Other technology bellwethers were mixed. Intel (INTC) shares slipped 2 to 57-11/16, part of a general slide in semiconductor stocks that took AMD (AMD) down 1-1/4 to 20-3/8 and Micron Technology (MU) down 1-1/8 to 38.
Chip-equipment maker Etec Systems (ETEC) fed into the silicon selling, with shares falling 5-5/8, or nearly 16 percent, to 30-3/8 after the company reported fiscal third-quarter profits that missed Wall Street expectations by a penny a share. CS First Boston downgraded the stock to "hold" from "buy."
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