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To: yard_man who wrote (56347)	1/10/2001 3:22:42 PM
From: chic_hearne	Read Replies (3) \| Respond to of 436258

tip, when talking about big cap tech such as MSFT, INTC, ORCL, CSCO, there's no need to discuss business fundamentals. They don't matter. Each of these guys has to figure out how to come up with $250 MILLION or more in profit each quarter now that they can't sell garbage Naz trash for huge gains. And this is just to meet last years numbers. Any of these companies could have a phenomenal year business wise, but they will still be reporting down YoY profits because their leverage machine broke. That's why I really don't care about funnymentals on these guys. Actually, in a way their fundamental business is selling stock and that business is broke.

To: yard_man who wrote (56347)	1/18/2001 11:04:26 AM
From: bill meehan	Read Replies (1) \| Respond to of 436258

I don't disagree with you about IT spending in the short-term. However, I don't expect MSFT to remain as heavily dependent upon PCs as they are now or have been in the past. I think of the company as almost a start-up that doesn't burn cash but throws off piles of it. The investments they've made, the cash, management and intellectual capital that they have makes them as certain a long-term winner under the most plausible scenarios. In the meantime it will fluctuate, which doesn't bother me at all, although I'd probably scale back if it goes substantially higher over the next 4-6 weeks. My basis is well below current levels and I wouldn't let it grow to be too much of my portfolio. JMHO and I could well be wrong.