“With that being said, we do not think this will cause a dramatic change in terms of the outlook for technology earnings for the next six months, and perhaps the next 12 months. The rate hikes from last year will probably affect technology spending over the next six months.”
“We expect the first half of 2001 could be difficult with fundamentals and stock prices improving in the second half, ... The question now is: 'Hard landing versus soft landing?'”
“The fact that the UNIX business is showing a little bit of life here is encouraging. They've still got a little ways to go, but they actually did a little better than I would have thought.”
“We view the rate cut positively for the technology sector for the short term, ... Looking back to 1998, when the Fed unexpectedly cut interest rates, the tech sector outperformed thereafter. We believe the rate cut may be the catalyst for better performance in technology stocks that many investors have been looking for.”
