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Technology Stocks : All About Sun Microsystems -- Ignore unavailable to you. Want to Upgrade?

To: Charles Tutt who wrote (16769)	6/1/1999 12:09:00 PM
From: Alok Sinha	Read Replies (1) \| Respond to of 64865

Before bashing Kurt King too much, please remember that he has been consistently recommending SUN during previous sell-offs (one after earnings release) and even as recently as a few weeks ago. So in the past he has helped support SUN prices. I think he is just doing what most analysts do. Try to get some clients to buy on the cheap. Also this type of downgrade based mostly on hearsay and vaporware usually does not affect the stock for a long time (if the market was stable). If there is a Y2K related slowdown in hardware, it allows the analyst to get the credit for being ahead of the curve. Based on the stock behavior in the last couple of hours on Fri, it is obvious that the smart (institutional) money had an inkling about the downgrade and started moving out of SUN towards end of the day Fri (when the stock droppped a couple of points while the market was stable - a leak, maybe). The retail buying in the last 15 minutes pushed all stocks up and SUN along with it. Given their strong and growing backlog, I don't expect Y2K to be much more than a earnings mgt issue that Scott and gang should be able to overcome. Regards Alok