Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Symantec (SYMC) - What does it look like? -- Ignore unavailable to you. Want to Upgrade?

To: Gregg who wrote (1759)	6/12/2000 3:54:00 PM
From: Elmer Flugum	Read Replies (1) \| Respond to of 2069

Symantec Stock Poised to Rise Further cnbc.com After licking wounds suffered in the early part of this year, Symantec Corp. {SYMC} has staged a great rally. The company's stock now looks poised to move even higher, following a product announcement Thursday morning. Cupertino, Calif.-based Symantec says it will develop antivirus software technology for Palm Inc.'s {PALM} Palm OS platform. This new product is a re-engineered version of Symantec?s award-winning antivirus technologies designed to run on handheld computers and other portable applications. The wireless Internet craze will change the way we work, live and play, yet again. Portable computers and handheld devices pose new rewards as well as new risks. This is especially true as businesses continue to move toward having wireless communications become a part of the company?s computing enterprise. Therefore, the protection of proprietary data against viral attacks is vital to the health and well being of any organization. Any device connected to the Internet is vulnerable to a malicious computer program. According to a 1999 International Data Corp. report, the firms estimates that 50 million personal handhelds will enter businesses worldwide by 2003. Forrester Research estimates that the mobile workforce will account for 57 percent of the total workforce in the next two years -- a rise from 35 percent currently. On the other hand, Palm and its Palm Pilot products, is one of the best-known companies in the wireless handheld computing industry. Palm commands 78 percent of the worldwide market for personal digital assistants. In the company's fiscal third quarter ended Feb. 25, Palm recorded a 116 percent increase in revenue over the same quarter in 1999. Pro-forma net income for Palm?s fiscal third quarter equaled $15.5 million or 3 cents a share, which was a 78 percent increase over the same quarter of 1999. Palm is expected to post fiscal 2000 earnings of 7 cents a share and 2001 earnings of 8 cents. Expect Palm to release results later on this month. In terms of Symantec, the company looks like it will continue its latest uptrend and could reach 77 over the next two to four weeks.