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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Jurgen who wrote (8912)	3/23/1999 9:47:00 PM
From: Lee Lichterman III	Read Replies (1) \| Respond to of 99985

Hope it wasn't a large position on DELL. From Briefing tonight... Uneasiness over the earnings prospects for the PC group the main reason why investors remain gun shy about getting on board tech sector... Fears given new life after the close when perennial disappointment Micron Electronics (MUEI 11 13/16 -3/8) reported a sharp year/year drop in revenues and earnings... Sales plunged 24.5% with earnings falling to $0.07 from $0.26... Though in line with estimates, quarterly results were not much to get excited about, especially given 7.4% sequential revenue drop... Poor revenue totals lend credence to street fears that falling average selling prices (ASP) are offsetting solid unit growth... These concerns prompted DLJ to cut its Q1 and FY99 earnings estimates for Dell Computer (DELL 37 7/8 - 2 3/8) and BB Robertson Stephens to trim its Q1 and FY99/FY00 estimates for IBM (IBM 167 -1 9/16) earlier Monday... Exaggerated expectations, seasonal sluggishness and order delays due to the release of the Pentium III also contributing to growing perception that the year will begin with a whimper and not a bang. briefing.com Also, DELL broke through an important trendline today and if it doesn't scuttle back to the topside quick, laugh now but 27 isn't out of the question as the next price target. BWTHDIK, Good Luck, Lee