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Technology Stocks : Dell Technologies Inc. -- Ignore unavailable to you. Want to Upgrade?

To: PAL who wrote (62666)	8/31/1998 6:41:00 PM
From: Dorine Essey	Respond to of 176387

Pal, Read this in Microsoft Investor, The four high-tech pillars of the Nasdaq, Intel Corp. INTC , Microsoft Corp. MSFT , Cisco Systems Inc.CSCO and Dell Computer Corp. DELL , were sold off in dramatic fashion. However, with the exception of Intel, the other three stocks are well above their year-to-date levels. Intel, lost 5-13/16 to close at 71-3/16, just above the 70-1/4 level at which it began the year. Microsoft fell 9-5/16 to close at 95-15/16. Microsoft began 1998 at 64-5-/8. Cisco Systems plunged 12-13/16, closing at 81-7/8, well above the 55-3/4 points at the start of the year. Dell Computer lost 18-3/4 to close at 100 even. Dell started the year at 42. The loss of investor stamina was nowhere more in evidence than in the flight out of Dell, the best performing U.S. large cap stock of recent years. "It's the one that held up the best for the longest," said one trader. "People have profits and they're taking those profits." To put Dell's sharp decline in perspective, the nearly $19 drop, represented only the last seven weeks of gains the stock. And Wall Street computer analysts emphasized that the business fundamentals for the leading direct distributor of personal computers remained bright. "Stocks really got ahead of themselves, but this is a combination of emotion and the realization that U.S. Corporations are not earnings as much," said William Cheney, chief economist at Boston-based John Hancock Funds. Hancock said they did see redemptions and call volume spiked on Monday. However, much of the activity was the exchange of money from equity funds into money market funds. "In that kind of environment the dealers don't want to take aim," said another trader of the move by market makers and specialists to shed stock holdings on Monday. "Nobody is holding on to inventory," "No one really wants to take inventory with the President out of the country and Russia in turmoil." ((Wall Street Desk 212-859-1718)) REUTERS