Arnie Berman
Arnie Berman
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.
business computing decade digging entirely fighting fulfill heels linux open powerful promises sun truly unix wants
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.
companies delivering few group growth money narrow positive tech tends
You've had a narrow group of tech companies that have been delivering positive and accelerating growth characteristics and money tends to get concentrated in those few companies that are doing that.
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,
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,
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.
belief confused people somewhat tech unilateral
There's no unilateral belief about tech stocks. People are confused and somewhat justifiably.
business companies everybody ibm missed solid year
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.
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.
bad best great news reactions year
The best news this year has been great reactions to bad news,
concerns market rest
Techs are being impacted by the same concerns that the rest of the market is,
announced companies deals evidence merger news provides recent strongest wave willing
This recent wave of merger news provides some of the strongest evidence yet that companies are willing to do some long-term planning. The kind of deals getting announced not just bolt-on acquisitions but transformational deals,
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,