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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Knighty Tin who wrote (33811)	10/13/1998 11:54:00 AM
From: Knighty Tin	Read Replies (2) \| Respond to of 132070

To all, Good news. Gartner Group, which rarely does anything right, finally hit one in the bull's eye. They came out with an IT Budgets Survey today that estimated that 44% of IT budgets will be spent fixing the Y2K problem in 1999. Although budgets will be flat, a bullish assumption given lower eps, a huge chunk will be diverted to fixing what they already have, not in buying new equipment for operations. This is absolutely disastrous for boxmakers, chip makers, chip equipment and non-Y2K software cos. The impact on the Internet scam stocks is harder for me to figure. If Y2k impacts advertising, it would be a bit more obvious. So, though I am betting that Keane gets an order or two out of this mess, long puts on most tech stocks still looks like the smart way to bet. Good Luck, MB