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Technology Stocks : How high will Microsoft fly? -- Ignore unavailable to you. Want to Upgrade?

To: Jon Stept who wrote (29885)	9/23/1999 4:08:00 PM
From: ALTERN8	Read Replies (2) \| Respond to of 74651

Microsoft President Steve Ballmer remarked that he thought the technology sector was overvalued, along with the price of his company's stock. "There's such an overvaluation of tech stocks it's absurd," he told a conference of the Society of American Business Editors and Writers. Referring to the speculative sentiment that's pushed tech stocks higher, he said: "In a way, it's a bad thing for the long-term health of the economy." Microsoft (MSFT: news, msgs) shares decayed 4 15/16 to 91 1/8. I say sell and short MSFT for biting the hand that feeds them and by the rest of the tech sector. What BS.

To: Jon Stept who wrote (29885)	9/23/1999 4:08:00 PM
From: johnd	Respond to of 74651

Folks, the market just needed a reason. I have been telling on this thread for 2 months that a correction is coming, back when Dow was at 11200, S&P at 1400. We are quite a ways into that correction. I expect may be another couple of 100 points down on the dow. This correction is healthy for good long term performance.

To: Jon Stept who wrote (29885)	9/23/1999 4:12:00 PM
From: ALTERN8	Respond to of 74651

If Ballmer is so good at deciding what price stocks should be traded at then why do we need wallstreet analysts? Lets just have company presidents make 12 month price targets for their own companies. This is ridiculous, the market decides what a stock is worth, supply and demand, not words of some MSFT billionaire. Maybe he just wanted to bring his stock down cause his limit order wasn't getting filled! What a silly day.

To: Jon Stept who wrote (29885)	9/23/1999 4:22:00 PM
From: RTev	Read Replies (2) \| Respond to of 74651

Greenspan and Buffet are not and so are not bound by the responsiblities or mission of the corporation. What? Warren Buffet is the CEO of a publicly traded company. When he comments on general market valuations, it's even more significant since Berkshire Hathaway is largely an investment company. As far as Ballmer: His job is to increase the long-term value of Microsoft. Occasionally, a company executive must do something or say something that is detrimental in the short term to the company's stock price, but which increases the company's long-term prospects or financial health. I suspect Ballmer's comments are made out of a genuine concern for the health (or lack thereof) of this market. If his comments can contribute in some small way to bringing greater balance to the market, then Microsoft benefits in the long run because it is among the premier tech stocks by virtually any rational measure. And hey, if you want to spin paranoid explanations for the remark, at least get creative. How about this absurd take on it: Ballmer made the remarks because Microsoft is losing too many employees. If the stock value tumbles, folks are less likely to cash out their options and leave the warm embrace of Redmond. [And no. I don't believe that for a moment.]

To: Jon Stept who wrote (29885)	9/23/1999 4:32:00 PM
From: Thai Chung	Read Replies (3) \| Respond to of 74651

As a long time shareholder of MSFT - I really believe that Steve Ballmer SHOULD BE FIRED because this is really proved the point that MSFT is a monopoly, too big and Steve Ballmer's comments is too arrogant. He didn't even care about MSFT shareholders.

To: Jon Stept who wrote (29885)	9/23/1999 6:20:00 PM
From: mozek	Read Replies (3) \| Respond to of 74651

I have no inside knowledge, but I could speculate that he honestly believes there is an unhealthy overvaluaton in the tech sector that, long term, could result in increased volatility and threaten the long term, steady appreciation of Microsoft stock. Believe me, this does nothing positive for my net worth, but I tend to trust that Steve has the company's health and long term shareholder value at the forefront of his motivation. Thanks, Mike