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Technology Stocks : Intel Corporation (INTC) -- Ignore unavailable to you. Want to Upgrade?

To: Ibexx who wrote (101339)	3/22/2000 9:35:00 PM
From: Ibexx	Respond to of 186894

Larry Wachtel's (of Prudential Securities) Closing Market Commentary as of 3/22/00: _____ March 22, 2000, 5:10 p.m. EST One day its kicks, then its kicks in the head. Last week NASDAQ and technology were subject to slings and arrows and given up for dead. Today, the Street went steady with the techies. Similarly, last week the Blue Chips were suddenly in a brave new world. Today they were reduced and abandoned. On Wall Street, life is a cycle and if you wait for your trolley car it will come along. Today they bought all the groups that they sold last week. Biotech bounced, chips chortled, Internet insinuated and software was hard nosed. NASDAQ gained 152 points, the fifth biggest point gain on record. The Dow Industrial Average fell 40 points while the S&P 500 gained over six points and reached a new all time high. Big board winners outpaced losers and volume exceeded one billion shares. Intel was an all purpose component, helping both the Dow and the NASDAQ. The five point rise sent the chip giant into new high ground. Other Blue Chip winners include Rambus up 83 points on a Morgan Stanley recommendation while Natural Microsystems was a 22 point winner. Money continues to flow into technology stocks. About $17 billion poured into equity funds in the three days ending Monday with about $5.4 billion flowing into the aggressive growth funds that focus on the computer and technology companies in the NASDAQ. The 83 telecom and computer companies within the S&P 500 are expected to report average earnings growth of 22% in the first quarter, compared with 18.3% for the entire Index. This according to the First Call Tracking Service. The Philadelphia Semi Conductor Index rose 110 points, the Biotech Index gained 59 and the Internet Index rose by 39 points. Gene Logic gained 21 points while Gene Therapy gained 10. Internet giant PSI Net announced the acquisition of Metamor World which gained over 17 points. E Bay gained 18 points to another new high while America On Line pushed up four while its would be merger partner Time Warner gained four. Negative results impacted Santa Cruz Scientific, Movado, Gucci and Dean Foods. A positive pre-announcement from oil field giant Smith International sent that stock up over 6 points and helped the entire service group. Tiffany and Zale Corp fell back on a Merrill Lynch downgrade while Walt Disney scored a new high after a Schroeder recommendation. The end of the quarter portfolio prettying continues tomorrow and technology seems to be back in the limelight. Things change. ____ Ibexx

To: Ibexx who wrote (101339)	3/23/2000 5:27:00 AM
From: amic	Read Replies (1) \| Respond to of 186894

Couldn't agree more Ibexx. Of course I am nervous about AMD's latest challenges to Intel's CPU business, but Intel's future is about so much more than just CPUs that neither AMD nor the current valuation level bother me -too much. Side note. INTC gained $46 since I left the company. I think the market's reaction to my leaving is way exaggerated ;-) On the other hand, really happy I did not sell a single share and that I have few stock options left to exercise...