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Have tech stocks bottomed out?

Ronald Hanaki
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Both C|Net News and Yahoo! Finance are reporting that Intel may be leading a resurgence. This cut from Yahoo!:

Intel, a Dow component and Nasdaq heavyweight, ended up $1-13/16 to $46-11/16, its best close since late September.

On Wednesday, the world’s No. 1 chip maker, comforted jittery investors, forecasting a rise in 2001 sales, and saying that the fourth quarter was on track after a less-than-stellar third quarter.

The chip sector, recently battered by fears that growth had hit its peak, received additional welcome news. Global semiconductor sales are expected to rise 37 percent this year to $205 billion — the highest ever — and could reach $319 billion by 2003, according to the Semiconductor Industry Association, a trade group.

“It’s been a terrible year for a lot of investors, and you never want to give the ‘all clear’ sign because I don’t think everything is all clear. But I think it looks like perhaps we put the worst behind us,” said Noah Blackstein, a portfolio manager of Dynamic Power American Fund with $300 million in assets.

but from C|Net:

“On any given day the market can do what it wants,” said chip analyst Dan Niles, who projected slowed chip demand until the middle of 2001 in a report Wednesday after Altera warned that growth would likely be at the low end of estimates.

Maybe Europe can recover from its ‘flu‘. It remains to be seen whether tech stocks will continue to rebound but Rambus managed to extend its roller coaster ride by inking Elpida as the sixth memory maker to license the Rambus patents. Cha ching! For whom the bell tolls… It just goes to show you that people will do anything like this man who managed to get $8,000 stuck between his buttocks.

Does Alpha’s change in name augur anything special for the future? This is a good read about Alpha’s upcoming products.
Here is an optimistic look at Transmeta.

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