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Technology Stocks : Novell (NOVL) dirt cheap, good buy? -- Ignore unavailable to you. Want to Upgrade?

To: E_K_S who wrote (20680)	3/4/1998 11:38:00 PM
From: Paul Fiondella	Read Replies (1) \| Respond to of 42771

Slaughter has already begun --- afterhours trading 'Serious Blow for Tech Stocks' The shortfall promises to hammer Intel shares and the broader technology sector Thursday. "Clearly this is going to be a serious blow to tech stocks," said Drew Peck, an analyst at Cowen & Co. "It's a real big hit" to Intel. Mr. Peck said Intel has had to cut chip prices faster than in the past to keep up with the increasing demand for less-expensive PCs. "Prices are going down but unit sales aren't going up enough to offset" the impact, he said. While after-hours moves are sometimes exaggerated by low volume, tech stocks were getting battered. Computer maker Dell Computer Corp. was quoted at $130.50, well off its Nasdaq close of $139.0625, and software giant Microsoft Corp. was at $79.50, down from its Nasdaq close of $82.3125. Intel also projected that gross margin for the first quarter would fall to 53% from the fourth quarter's 59%. The company's estimate of its margins and revenues for the first quarter represent a scaling back of expectations since Intel made its last first quarter projection Jan. 13. At that time, the company said it expected gross margins to fall a few points from fourth quarter levels.---WSJ