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

To: John Koligman who wrote (9279)	11/21/1997 11:44:00 AM
From: Mohan Marette	Read Replies (1) \| Respond to of 97611

One man's opinion (why cpq and dell are down?) ''The techs are getting hit a little bit across the board. I think there is a little bit of profit-taking and a reaction to the Micron announcement,'' said Bill Meehan, chief market analyst at Cantor Fitzgerald. At 1050 EST/1550 GMT, the Dow was up 21 points at 7848. Curbs were lifted at 1033 EST. The Nasdaq shed all its gains and turned 2.83 points lower to 1623.73. Micron Electronics said it expects net income for the first quarter of 1998 to be minimal as high inventories and price pressure hurt gross margins for the period. Micron fell 2-9/16 to 11-5/16. The stock touched a 52-week low of 10-1/4. Tech stocks were vulnerable to profit-taking anyway after being one of yesterday's rally leaders, traders said. ''People seem to be a little bit more cautious about techs. People seem to think they are a little bit overweight,'' said Paul Rich, a trader with BT Brokerage. Intel Corp (Nasdaq:INTC - news) was down 7/16 at 80-7/16. Dell Computer Corp (Nasdaq:DELL - news) shed 1-12/16 to 83-15/16. ''I think the problem is specific to Micron, but Dell and Compaq are getting hit hard. I think it's an over-reaction,'' Meehan said. Compaq Computer (NYSE:CPQ - news) fell two to 64-1/2.