Arnie Berman
Arnie Berman
concerns market rest
Techs are being impacted by the same concerns that the rest of the market is,
associated best delivering downside earlier growth industry intel news pc positive rest returned surprises technology tends upside
A lot of the best news is associated with the PC industry. Intel has been not just a bellwether in the sense that it's big, but in the sense that technology as an industry has returned to positive year-over-year growth rates, and technology as an industry tends to be delivering more upside surprises than downside surprises these days. Intel started to do that earlier and more substantially than the rest of technology.
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.
aware bond cash chances flows improved investors irrelevant market money owed
The bond market is keenly aware that cash flows have improved and that the chances of investors getting back money they are owed is better. That's not at all irrelevant to stockholders,
bad best great news reactions year
The best news this year has been great reactions to bad news,
control cost gotten strategic structure sun
Sun has not gotten its cost structure under control and is more of a strategic muddle.
company far ibm looks solutions though time
So far it looks good. It looks as though IBM is the company that has the right solutions set for some time now.
content context happened intel line numbers whisper
The Intel numbers were actually in line with the whisper numbers, so the content is not so surprising, but the context is excellent, when you look at what happened in the quarter.
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.
clearly companies decisions forced investors sector technology
Companies in the technology sector are clearly overcapitalized and they are going to be increasingly forced by investors to make decisions about their cash,
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Any technology spending recovery follows a simple principle: things that are easiest to do without come back last,
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.