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Technology Stocks : Maxtor (MXTR) -- Ignore unavailable to you. Want to Upgrade?

To: Big Dog who wrote (351)	12/9/1999 6:37:00 PM
From: Big Dog	Read Replies (1) \| Respond to of 467

Here's some support for a great 2000: On Nov. 10, Maxtor Corp. (MXTR) was raised to ''buy'' from ''market perform'' by analyst Paul G. Fox at Banc of America Securities. Within the sector, he upgraded his ratings on Seagate Technology (SEG), Maxtor (MXTR) and the Quantum unit (HDD), based on a supply-and-demand imbalance. On all of them, he shifted his outlook on the drive makers to "buy" from the previous "market performer" rating. With regard to MXTR, the company raised its prices on some of its products because of this supply-and-demand imbalance: "MILPITAS, Calif., Nov. 9 /PRNewswire/ -- Maxtor(R) Corporation (Nasdaq: MXTR) today announced that it raised prices in the distribution channel on its highest volume hard disk drive products. The price increase went into effect in distribution channels worldwide on Monday, November 8, 1999 and is the most recent move in a series of price actions by the company during the quarter. Maxtor has also raised prices selectively at OEMs over the past four weeks. "Price declines have been at unprecedented levels for nearly one year," said Mike Cannon, Maxtor's president and CEO. "While customers have greatly benefited from this, these prices declines cannot continue indefinitely at this rate. The current imbalance in supply and demand gives us the opportunity to moderate pricing which will help ensure that customers continue to have competitive supply choices in the future." Maxtor has increased prices in the distribution channel on products in the 4 to 8 GB range and selectively at OEMs on products from 4 to 13.5 GB."