Word: intel
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Dates: during 2000-2009
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...heard all the bad news about third-quarter earnings," says tech investor Kevin Landis, portfolio manager at Firsthand Funds. "The good news comes next." Landis expects investors to come back into tech stocks fairly soon, though he doubts they'll flock back into the old bellwethers Intel and Microsoft, which in the minds of some of the tech savvy are on the verge of becoming also-rans. A new list of tech bellwethers is developing, agrees Jeff Applegate, market strategist at Lehman Brothers. It includes networking and e-commerce facilitators like EMC, JDS Uniphase, BEA Systems, Corning and Siebel Systems...
...millionaires--ha!--thousandaires squirm as their cyberpriced stocks came screaming back to earth and their dotcoms disappeared overnight. But then something else dawned. It wasn't just kids from Stanford taking it on the chin. It was us. Suddenly, warning lights are flashing. In recent weeks, everyone from mighty Intel--whose microchips power 80% of the world's computers--to lumber and housewares seller Home Depot has signaled a sharp drop in profits, leading nervous investors to pummel their stocks...
...stocks have done well. But that's not where the money was. Popular techland has been a disaster. Last week the NASDAQ yo-yo busted its string and fell to a new low for the year, extending a slump in the most speculative stocks and grounding the likes of Intel, Dell, Cisco and Lucent...
...investing backdrop hasn't been this frightening since 1990. An eroding wealth effect could hurt consumer confidence, while a surging dollar is taking a bite out of the earnings of U.S. multinationals. Among companies sending up earnings flags: Home Depot, Yahoo, Lucent, Intel, Kodak, Dell and DuPont. Meanwhile, renewed hostilities in the Middle East are pushing oil prices higher, threatening to stoke inflation...
...practically a rock in these troubled times. On staggering volume of 2 million shares (this by 2:30), the tech index took a smaller version of the Dow's early dive but steadily regained ground throughout the day and by late afternoon was into the black. Credit Intel, Sun Microsystems (which flubbed and spit out a good earnings report a few hours early) and Microsoft for leading the charge...