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Technology Stocks : How high will Microsoft fly? -- Ignore unavailable to you. Want to Upgrade?

To: sandeep who wrote (52171)	10/24/2000 8:48:45 PM
From: johnd	Read Replies (1) \| Respond to of 74651

If you focus on week, you will miss the big picture

To: sandeep who wrote (52171)	10/25/2000 4:22:49 AM
From: Joseph Pareti	Read Replies (1) \| Respond to of 74651

re euro weakness isn't this sort of stale news, that the market should have discounted a long time ago, e.g. starting with the dell warning ? Intel, M$ft and CPQ have clearly demonstrated they are on track by establishing industry-standard solutions and that their revenue engine works well. In contrast, i would feel very edgy if i were long in "proprietory dinosaurs" that are trading at 100 + PE mainly because (i) they have been milking a cash cow as the market was awaiting for W2K, and (ii) boosted by analysts. While M$ft has been fixing the former, the latter will be taken care of in a similar manner as to what happened to the internuts in April-May 2000 time frame. The euro story adds nothing to the wintel fundamentals. On one side i don't have any trend reversal in sight, as long as euroland continues being saddled by legacy "union-style" governments that will invariably ditch any attempt to seriously leverage the new economy. On the other side there are not only charges to it, but also benefits, like costs being made in a weak currency. Once the market has finally got the idea by separating hype from fundamentals and reassessed the (currrently distorted) valuations we will see quite a different picture.