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To: Lucretius who wrote (7084)	2/1/1999 7:20:00 PM
From: SJS	Read Replies (1) \| Respond to of 14427

Semi's and MU: _____________ Since the market lows of Oct. 8, the average bellwether computer-related stock has bagged a 125 percent advance. Catalysts in the move have been a rampdown in the industry's bloated inventory levels, firmer pricing, and continued solid PC demand. Wall Street analysts have responded by hiking their earnings estimates for many technology concerns. "Something like 70 percent of the fourth-quarter earnings surprises in the technology sector have been upward surprises, which is well above any other sector," said John Manley, chief equity strategist at Salomon Smith Barney. "The only other sector that comes close is consumer cyclical, with something like 50 percent. "The tech numbers were just unbelievably strong," Manley said. "The semiconductors were the ones that showed the biggest turn. They are the ones that tipped us off in the middle of the year that the numbers were getting better."