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Technology Stocks : Applied Magnetics Corp -- Ignore unavailable to you. Want to Upgrade?

To: appro who wrote (10159)	11/6/1997 5:32:00 PM
From: Helios	Read Replies (2) \| Respond to of 12298

Wow! Briefing blames todays poor showing of the Nasdaq on the IBM announcement. <http://www.briefing.com/intro/istocks.htm> Nasdaq finished markedly lower relative to the Dow and S&P... Reason for the divergence stems from the tardy entrance of IBM into the sub-$1000 PC market, and price cuts from Compaq that triggered concerns related to the potential for lower profit margins and growing competition in the competitive PC industry... As such, tech investors opted to secure profits... Wasn't long before losses in the computer makers filtered down to other tech industry groups... Among the hardest hit were the semiconductor, semiconductor equipment, and networking stocks... Broader market fared much better, but was weighed down by the retreat in the tech sector and was unable to sustain gains that were posted late in the day... Still, market proved resilient, managing to bounce back each time it encountered some selling interest...