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

To: taxman who wrote (34503)	11/20/1999 7:32:00 PM
From: John F. Dowd	Respond to of 74651

taxman: Bloomberg ( they are anti-MSFT) doesn't see it that way . Their comments suggest thaat Posner would lean on MSFT to settle by showing them why they wouldn't win on Appeal while no mention made of his leaning o DOJ. The media is definitely bent. But none of these business media bozos own any stock so they are oddly enough anti-business.JFD

To: taxman who wrote (34503)	11/20/1999 7:45:00 PM
From: John F. Dowd	Respond to of 74651

taxman: Here is a very bullish article overall for tech. Stansky shy on techs. Everyone talks and this fund is one of the leaders and as he starts to scale back in all of the other managers will follow. They are like a little flock of sheep. JFD Fidelity's Stansky Says Magellan Lagged as He Cut Tech Stocks By Kathie O'Donnell Boston, Nov. 15 (Bloomberg) -- Robert Stansky, manager of Fidelity Investments' $97 billion Magellan Fund, said the world's biggest mutual fund lagged its rivals the past six months because he trimmed its technology holdings early in the year. ``To the extent the fund held less in technology than the market and its peers, it generally gave up some ground to both,' Stansky said in Magellan's Sept. 30 semiannual report. Magellan lost 0.40 percent for the six months ended Sept. 30, trailing the Lipper growth funds average, which returned 1.45 percent. The fund also lagged the Standard & Poor's 500 Index, which returned 0.37 percent, the report said. Stansky raised Magellan's holdings of technology stocks to 22.1 percent of assets for the six months ended Sept. 30 from 20.9 percent as of March 31, 1999. Among the stocks that added most of its gains were Texas Instruments Inc., Cisco Systems Inc, Oracle Corp., International Business Machines Corp, and Intel Corp., he said. ``Technology stocks that had the largest positive impact on the fund's performance over the past six months are all connected in some way to the computer or telecommunications industries, the Internet, or all of the above,' Stansky said. Magellan Fund gained 8.8 percent in the current quarter, matching the S&P's return. Stansky had pared Magellan's technology investments in the first quarter because he was concerned their valuations had risen too high. Technology stocks continued to rise in recent months without a commensurate rise in earnings estimates, Stansky said. ``In other words, investors gravitated to those technology companies that had provided strong earnings historically, without much regard for how much they were paying for that earnings growth,' he said. ```As a result, there weren't as many buying opportunities in this area as I had hoped there would be during the period.'