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Technology Stocks : Applied Micro Circuits Corp (AMCC) -- Ignore unavailable to you. Want to Upgrade?

To: Raymond Duray who wrote (1339)	2/12/2001 12:48:46 PM
From: LJM	Respond to of 1805

FWIW> DJ Donaldson Lufkin CIO: Inventory Correction Cycle Near End 12 Feb 10:58 NEW YORK (Dow Jones)--With the inventory correction cycle nearing its end, now is a good time to buy consumer goods, said Thomas Galvin, Donaldson Lufkin & Jenrette Chief Information Officer and Equity Strategist in an interview with CNBC Monday. Galvin said he believes we are in a "classic credit crunch" that started in July when Home Depot Inc. (HD) announced it had too much inventory. "We are in the fifth or sixth inning of a nine-inning inventory correction," Galvin said. Galvin's stock picks include Applied Micro Circuits Corp. (AMCC), Celestica Inc. (CLS), Nokia Corp. (NOK), McLeodUSA (MCLD) and Morgan Stanley Dean Witter & Co. (MWD). Galvin said that he would avoid insurance stocks, which "had a huge move last year," and suggested investors should "lean to where capital markets are." This month, Galvin said health-care stocks will "be a place where those nervous about tech stocks will want to rest." He suggested those investors buy Pfizer Inc. (PFE), Pharmacia Corp. (PHA), and Quest Diagnostics Inc. (DGX). - By Michelle Rama, Dow Jones Newswires; 201-938-4046 (END) DOW JONES NEWS 02-12-01 10:58 AM