March 20, 2000, not March 10. If you're looking on line, they don't put up all the articles. And anything with charts won't make it. The article reads:
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The long-awaited correction in technology stocks may be under way, but that's no reason to take your eye off what has been the biggest ball in the arena in this or any other year of the last decade.
Recent history shows that the biggest gains during the ongoing expansion and bull market have been centered in technology --- computers, electronics, telecommunications, Internet and medical.
The power and resilience of this sector have been so formidable that a savvy investor who looks away too long risks missing yet another burst of out-performance and a new batch of market leaders.
In two prior special Computers & Technology sections, IBD listed the 200 best tech stocks based on their combined Relative Price Strength and Earnings Per Share Ratings.
Sales growth, profit margins, and return on equity also were taken into account, as was each stock's Accumulation/Distribution Rating, which tracks whether big investors are buying or selling.
These are the components of IBD's SmartSelect Corporate Ratings.
Six months ago, the list was topped by Qlogic, a chip company that rose 341% from that point to the middle of last week. Since then it has pulled back about 40%, serving as a reminder that these stocks are speculative and could correct at any time.
Qualcomm, which ranked second in the September list, quadruped in the fourth quarter of last year. The leader in wireless technology has spent most of this quarter consolidating those gains.
The No. 3 stock in September, Advanced Digital Info, a data-storage firm, went from 15 to 50 before slipping 24% off its high in the last two weeks.
Three months ago, Qualcomm topped the list, followed by Veritas Software, which went from 70 to 174 before correcting 24% this week, and Infosys Technologies, an India-based computer-services outfit that went from 133 to 375 before coming off 29%.
Infosys ranks second in the new list below, just behind Emulex, which makes network access and fiber channel products.
Emulex has corrected 34% off its March 10 high:it had shot up 136% in six weeks. Earnings rose 233% for the Costa Mesa, Calif., company in the 12 months ended last June and are expected to triple again in fiscal 2000.
Applied Microcircuits, which follows Infosys on the list, made a sixfold move in six months. But it corrected 28% this week. The San Diego commpany provides high-bandwidth solutions for the telecom and communications industries. Wall Street looks for a 108% profit gain in the fiscal year ending this month. Results in the third period ended in December were up 133%.
IBD's Earnings Per Share Rating measures a company's profit growth over the last three to five years, giving added weight to recent quarters. That growth is then compared to all other public companies and ranked on a scale of 1 to 99.
IBD's Relative Price Strength Rating measures each stock's price change over the last 12 months and compares it to all other stocks. The results are also rated on a scale of 1 to 99.
Listed in order, but without scores in each category:
EMLX, INFY, AMCC TLGD, ITWO, NTAP, SILI, QCOM, JDSU, CREE, CHKP, QLGC, ADIC, KEI, ARMHY, HAUP, VOXX, VTS, MERQ, TQNT, SEBL, XETA,ETEK, RFMD, AFCI, SDLI, QGENF, CLFY, BOBJ, PWAV, PLMD, ZOMX, ORCL, PRGN, VSAT, DRAM, AMK, SRNA, RSAS, FORTY, LOGIY, ANEN, CTXS, IIVI, SNDK, TROY, MRCY, TTII, WFII, MCRL, FFTI, PWER, SNRA, DIIG, CTSH, ELNT, CMVT, BBRC, SMTC, SYMC, AMKR, FLEX, PSEM, CBXC, PWR, NECS, WEBT,APEX, VTSS, INTI, MSTR, APSG, PRLX, VARI, RSYS, ADI, XLNX, ORBK, DSPG, OCCF, PROX, ALDN, MUSE, PCTI, RMD, RMDY, PTIX, SAPE, DAVX, TECH, MSS, PSWT, DIO, PLXT, MDCC, INTL, SBL, WAT, CSCO, SUNW, BEAS, ADCT, SAWS, ADTN, ALTR, SFA, METG, SMIF, GILTF, CUBE, TNL, ZOLL, BRCM, NSOL, PUMA, APH, SSTI, DIGL, XLTC, LXK, AREM, MTIC, NEWP, PHTN, EXAP, BVSN, CHP, AFCO, AXTI, PGNX, CAMP, NICE, DITC, PCOP, TMX, STZ, NOK, NTSL, EMC, MNMD, BRCD, VSH, DOX, INRS, AIRO, CVG, SCI, COSI, ENZ, MCHP, RADS, ACTL, HIFN, DSET, MGIC, BRKT, CAIR, LTXX, QSFT, ANAD, AUDC, CHL, HNCS, LSI, VRSN, LORX, COHR, ZIGO, ACVC, MDEA, HLIT, JBL, SANM, IVGN, MKSI, GICOF, AMAT, TTN, TKLC, NANO, ISSX, NVLS, VECO, MXIM, ACTU, CIEN, BRNC, ESIO, ACXM, GTNR, ASYT, MTSN, ECTX, NTCR, ARTC, APCC, AVTC, ASMI, SFE, ONXS.
If there's one you think doesn't belong, just ask and I'll check to see if I made a mistake. The print is really small.
Pat
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