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Technology Stocks : Ascend Communications (ASND) -- Ignore unavailable to you. Want to Upgrade?

To: Larry J. who wrote (29934)	1/10/1998 2:39:00 PM
From: Jeff Jordan	Respond to of 61433

Jeff, don't feel bad on the ASND day trade attempt yesterday. Larry, Why should I feel bad? I now have 2500 shares! However, my Jan30's took a hit& Mar25 down 7/8....that hurts alittle! I agree, last weeks run was not option related....this weeks is. Jeff

To: Larry J. who wrote (29934)	1/10/1998 9:59:00 PM
From: Glenn D. Rudolph	Respond to of 61433

High-Tech in America – 15 December 1997 2 The High Technology Industry in America Cybernation: The Importance of the High-Technology Industry to the American Economy, a report on the impact of the U.S. high technology industry, provides important information on the industry's contributions and growth trends. The report was produced by the American Electronics Association (http://www.aeanet.org), a trade group supporting the interests of high technology companies by influencing national public policy and facilitating access to international markets. AEA defined the high technology industry by conservatively selecting 45 Standard Industrial Classification (SIC) codes that cover three broad categores: high-tech manufacturing, communications services, and software and computer-related services. The AEA's study is based largely on U.S. Government statistics from 1990- 1996. The industry's importance to our economy has risen as technology permeates nearly every aspect of our lives. Technology affects where we work, how much we make, what we sell (both domestically and abroad), and what our future will be. Domestic High Technology Sales Businesses are spending heavily on technology to improve productivity, decrease costs, bypass middlemen, and speed time to market. Based on 1996 revenues, the high technology industry was the largest industry segment in the U.S. economy. Telecom deregulation, the growth of the Internet, and the widespread deployment of computing helped push 1996 high-tech revenues to $866 billion, up 57% from 1990. Furthermore, the $428 billion value of factory shipments by high-tech companies represented 12% of all U.S. manufacturing industries. Technology products and services growth continues to outpace that of the overall economy. As a percentage of GDP, 1996 high-tech manufacturing was 2.3%, up slightly from 2.2% in 1990. Services represented 3.9% of GDP, up substantially from 3.3% in 1990. Taken as a whole, high technology was 6.2% of GDP, up from 5.4% in 1990. High-tech ranked second overall as a percentage of GDP behind healthcare, which, including government spending, exceeded 20% of GDP. Chart 1: High Tech as a % of GDP 1990 1991 1992 1993 1994 1995* 1996* 0% 2% 4% 6% 8% 1990 1991 1992 1993 1994 1995* 1996* Manufacturing Ser vices * -Projected Source: U.S. Bureau of Economic Analysis International Trade of High Technology Merchandise and Services Merchandise Trade As a percentage of total imports and exports of manufactured products, high technology grew dramatically from 1990 to 1996. During this period, U.S. exports grew 94% to $150 billion, representing 24% of all goods exported from the United States. At the same time, America's appetite for imported technology goods more than doubled, from $81 billion to $174 billion, leaving the country with a net technology trade deficit of $24 billion. However, intracompany trading reduces the real deficit somewhat as many components used in final high technology products are sourced from subsidiaries of American companies located outside the U.S. Overall, the high technology trade deficit increased during the study period, with imports from non-Japan Asia increasing the fastest during the study period. The increase from non-Japan Asia is occurring as many Japanese electronics firms transfer production to lower-cost countries such as Singapore and Malaysia. The U.S. imported more than twice the value of high technology goods from Japan as from any other trading partner. Due to the devaluation of Asian currencies, U.S. exports of manufactured goods to the region should decrease as these products become more expensive. Conversely, we expect U.S. imports of cheaper goods manufactured in Asia to increase, causing the net trade deficit to grow in 1998.