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Technology Stocks : Qualcomm Incorporated (QCOM) -- Ignore unavailable to you. Want to Upgrade?

To: T L Comiskey who wrote (68025)	2/28/2000 1:44:00 PM
From: Ruffian	Respond to of 152472

Prudential's Wachtel Says Downward Trend Is Ending NEW YORK -- Recent slides in the Dow Jones Industrial Average signal the end rather than the beginning of a downward trend in the equity market, according to Larry Wachtel, market analyst with Prudential Securities. In a CNBC interview Monday, Wachtel said three-quarters of the 99 Standard & Poor's groups have been declining since mid-1999. "What you're seeing in the Dow is the culmination of a process that's been in effect for some time," he added. Blue-chip stocks are "now closer to the bottom than to the top" of a downward trend, he said. Wachtel thinks the Dow may dip as much as 20%, but would not automatically interpret such a correction as an omen for the broader market. "I've always been troubled by this aspect that somewhere written in stone, a bear market begins if a 30-stock index falls a certain percentage," he said. "I don't buy that at all." In the long term, Wachtel is bullish on technology stocks, which he says "are in the forefront and will remain in the forefront, given periodic corrections." He likes Applied Materials Inc. (AMAT), which he calls "the champ in the semiconductor equipment side." Wachtel's other technology favorites are Vitesse Semiconductor Corp. (VTSS), Motorola Inc. (MOT), Qualcomm Inc. (QCOM) and Tandy Corp. (TAN). He said Tandy is the most oversold among those picks, and that Qualcomm is "the one that has long-term legs." -Christine Nuzum, Dow Jones Newswires, 201-938-5172