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Technology Stocks : EMC How high can it go? -- Ignore unavailable to you. Want to Upgrade?

To: Bob Frasca who wrote (4861)	3/13/1999 10:18:00 AM
From: John Carragher	Read Replies (1) \| Respond to of 17183

Interview today's barron's with Bob Turner Turner growth fund (large cap) A big slug of his prime holdings are tech issues. And although he's bullish on technology, he admits that the first quarter has been somewhat confusing. With the recent blowups in Dell and Compaq and general nervousness about whether Intel will make its numbers, he's a bit skittish. Nevertheless, he's still been buying more shares of his favorites in recent weeks. One is Cisco, because of its earnings visibility. (In Wall Street-speak, that means Cisco has a good order backlog and should have good profits.) He thinks that it's worth paying up to 55 times next year's earnings -- Cisco's recent multiple -- if you can bank on those earnings. He also likes the company's competitive position. With relatively few rivals making the electronic routers and switches that are its bread and butter, Cisco enjoys rare pricing power. For the same reason, he's high on EMC, a data-storage outfit. "They just don't have much competition, and they're in a rapidly growing market that's going to expand even faster because of the Internet," he says.