Arnie Berman
Arnie Berman
applied capital evidence ibm improvement issues larger last month problems rest services slow tech today transfer
HP's problems with services are not uncommon. IBM has had issues like that, too, of late. The larger problem with tech today (Friday) and in the last month has been that improvement in semiconductor capital equipment, like Applied Materials, doesn't transfer over to the rest of the tech sector. While tech fundamentals are turning, the evidence of that has been slow coming.
concerns market rest
Techs are being impacted by the same concerns that the rest of the market is,
happen recovery second stocks technology
Technology stocks were grossly oversold going into this. The recovery in fundamentals won't happen all at once, but it will get under way in the second quarter.
basis history longer possibilities stocks technology valued
Technology stocks that were once valued on a price-to-possibilities basis are now valued as if history no longer matters,
boring fourth losers people stuff
At this point, boring makes for an interesting fourth quarter. I think this year's losers win. The stuff that people chucked from their portfolios is what they will want back.
activity bond companies equipment market money providers scared service signal spending start
Consolidation activity is actually a signal that service providers are scared and will start spending money again. Equipment companies are long-term beneficiaries of this and frankly, I think that's what the bond market is smelling out,
belief confused people somewhat tech unilateral
There's no unilateral belief about tech stocks. People are confused and somewhat justifiably.
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Linux promises to fulfill the promise made by Unix a decade ago -- a truly cheap, powerful and entirely open computing architecture. Sun is digging in its heels fighting the trend. As a result, no self-respecting CIO will say she or he wants to do more business with Sun.
acquiring companies conviction prices risk stability stock willing
When stock prices are rising, companies have conviction about stability in the near-term and are more willing to take on the risk of acquiring something,
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Here we are seven days into the new quarter, and the pre-announcement season has been extremely mild,
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If Oracle, when it came to crunch time in February, had a tough time getting new business, then companies whose crunch time is this week will have a tougher time still.
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IBM was one of many companies that were good at managing expectations in a period where investors were conditioned to expect earnings surprises.
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IBM is one of these big bellwether companies where their business is so solid that in a year like 2001, where everybody was missing, IBM never missed a quarter.
again open optical software widely window
If this lasts, the IPO window will open widely enough that more software companies, not just optical technology, will again be participating.