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Technology Stocks : Hewlett-Packard (HPQ) -- Ignore unavailable to you. Want to Upgrade?

To: Elwood P. Dowd who wrote (656)	5/29/2002 10:31:35 PM
From: Dave B	Respond to of 4345

El, I'm growing concerned that we will not get a very positive outlook from CF and MC on 6/4 and that the stock will drop to 15 range. C'mon, you need to be positive. This merger is going to cure everyone's ills. What's CPQ worth with HPQ at $15? Dave

To: Elwood P. Dowd who wrote (656)	5/30/2002 12:49:18 AM
From: BelowTheCrowd	Respond to of 4345

Based on other information out there, I don't see that there's much cheery to report on the sales side. The business is still slow and I still see no concrete signs of a major upgrade wave. Even Dell is really not talking in terms of growing the business, they're talking about stealing market share and wringing greater efficiencies out of the business. Intel is very cautious too. Question is whether this is priced into the stock or not. I suspect that to some degree it is, just as it is to some degree in Intel, Microsoft and many others. That said, I think most stocks in this business have more downside risk than upside. I suspect that the briefing will focus on post-merger activities and cost reductions, not so much on the almost invisible future demand. I suspect also that the street somewhat expects this. However I think a continued "grinding down" among many stocks in this sector is more likely than not. However I would not, at this point, short HPQ. In truth I think INTC is a much better target for those inclined to shorting. Treading cautiously... mg