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Technology Stocks : The New QLogic (ANCR) -- Ignore unavailable to you. Want to Upgrade?

To: J Fieb who wrote (18598)	10/14/1998 5:14:00 PM
From: Ken Richard	Read Replies (4) \| Respond to of 29386

Any thoughts on impact on FC ramp up? H-P sees computer growth slowing in '99 due to Y2K ORLANDO, Fla., Oct 14 (Reuters) - Hewlett-Packard Co. Chief Executive Officer Lewis Platt said on Wednesday that he sees a significant slowdown in the computer hardware industry is likely during the second half of 1999. Speaking to an audience of computer information technology managers at a conference here, Platt said the focus on upgrading computers to be ready for the Year 2000 date change would hurt the hardware industry. He downplayed more apocalyptic scenarios such as a freeze on spending and possible social dislocation. ''My own personal view is that a significant slowdown in hardware purchases is likely to result in the second half of 1999,'' Platt said. He noted that, as a diversified maker of a variety of electronics products, only 50 percent of Hewlett-Packard's revenues come from computer products that might be affected directly. ''I absolutely agree there will be some impact...there will be some negative impact particularly on server revenue,'' he said of the large computers used to run business operations.