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

To: JDN who wrote (5953)	4/23/1999 4:39:00 PM
From: space cadet	Read Replies (3) \| Respond to of 17183

I agree with your outlook. However the hi-techs had another strong day while emc went nowhere fast. Second day in a row. My sensitive manipulation meter is sensing lots of game playing. But so far from May expiration this seems pretty unusual. Surely they can't expect to hold emc down for 4 weeks! But the massive selling when emc opened above 115 yesterday tells me that someone is either holding it down or trying to get out. I think the y2k theory is now discredited basically and no longer an issue. However there still are two possible issues. emc is trading at a high p/e. If/when there is another correction this will return and be an issue again. Of course, this should also effect msft, csco, lu, etc. as well. The new issue is intel. They just released a press release saying they are moving into the networking/internet environment bigtime. Of course, that means storage as well. How big an issue is this for emc. Will intel now be a direct competitor? If so, that could be the real reason for the sudden stock swoon and inability to return to its former heights. Intel is a gorilla no doubt about it. And if emc must now take on intel then we are in for a serious fight. Anyone else have any opinions on this intel story? Incidentally I still do expect emc to rally substantially from here by July at least and hit 130 by then, with the split and more good news, etc. But I want to understand any upcoming problems besides the mindless and inaccurate y2k fiasco.