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Technology Stocks : Compaq -- Ignore unavailable to you. Want to Upgrade?

To: hlpinout who wrote (89377)	1/31/2001 6:38:37 AM
From: hlpinout	Read Replies (4) \| Respond to of 97611

tradingday.com Investing Stock picks by the pros Qualcomm, Compaq, Retek and Allen Telecom are on list of favorites January 30, 2001: 11:58 a.m. ET NEW YORK (CNNfn) - Wall Street experts and market strategists reviewed stocks in the technology sector, recommending companies such as Compaq, Gateway and Qualcomm. Here is a rundown of their stock picks. Timothy Ghriskey, senior portfolio manager at Dreyfus, predicted that Compaq will turn itself around in the near future. He said the computer maker currently receives a significant part of their earnings from the enterprise segment and servers. "That part of their business was very strong in the previously reported quarter, and that's why the stock is rebounding," said Ghriskey. He said the share price is still on the low end, and Compaq is a good buy at this level. Ghriskey also kept an eye on Qualcomm, the stock he described as the best performing stock on the Nasdaq in 1999. The stock's valuations, however, have dropped drastically to where Ghriskey considered as "a very reasonable level." He said more people are replacing land lines at home with wireless technology, and Qualcomm should benefit from that in the long term. Another technology stock Ghriskey mentioned is International Business Machines. He cautioned that while both IBM and Compaq are two key players in the PC market, the two companies have been moving away from the core PC business. Therefore, buying shares of Compaq or IBM is no longer a direct investment in the PC sector. Compaq (CPQ: Research, Estimates) stock moved 35 cents higher to $23.90 at midday Tuesday. The stock has been trading in a 52-week range of $34.87 and $14.30. Shares of Qualcomm (QCOM: Research, Estimates) were down $2.88 at $83.94, with a 52-week high of $200 and 52-week low of $51.50. IBM (IBM: Research, Estimates) shares inched 78 cents lower at $114.20. The stock has been trading between $134.93 and $80.06 during the past year. Joe Battipaglia, stock strategist of Gruntal & Co., said typically any management shake-up poses a concern, but that should not be the case for Gateway. He said the return of Gateway founder Ted Waitt should be seen as a good news for the company. "He's a spokesman for the company, and he's got a vision that they have been implementing," said Battipaglia. "He's going to have direct responsibility to help get them there, and I think the market will react favorably to this." As for the overall technology sector, he stated that technology stocks will always be the leaders in the U.S. economy, and when the economy starts to pick up again, tech stocks will show the greatest jump. Shares of Gateway (GTW: Research, Estimates) were 17 cents lower at $21.49. The stock has been trading between $75.12 and $15.30 during the past 52 weeks. Edward Hemmelgarn, portfolio manager at Shaker Investments, continued to keep Retek Inc. as one of his favorite stocks. He said the retail management software maker has some long-term potentials. "The company is doing an excellent job of integrating both the retailers and their data about customer," said Hemmelgarn. He, however, pointed out that investors should see this stock as a long-term investment target. "You have to look at any holding over a three-to-five year period of time really, to tell how well it's going to do," said Hemmelgarn. Allen Telecom, another of his recommended stocks, as he described should benefit over the next five years from the explosion of the development of third generation wireless technology. "What I'm referring to is the communication of data over the wireless network, as opposed to just voice," said Hemmelgarn. Retek (RETK: Research, Estimates) stock dropped $1.88 to $33.12 with a 52-week high of $86.43 and a 52-week low of $15. Shares of Allen Telecom (ALN: Research, Estimates), which supplies antennas and telecommunications devices, dipped 5 cents to $19.75. The stock has been in a 52-week range of $24 and $10.56. * Disclaimer sites