We need more ingredients, ... Most of the technology companies have demonstrated improving margins and sequential revenue growth. The foundation is setting up for a recovery, but the market has come pretty far in a short period of time. We need some more conviction coming into August. I think we're going to trade sideways for the near term.
More Quotes from Michael Davies:
The Iraq situation just seems to hang over business investment decisions, which is critical right now, ... Unfortunately, we're dependent upon enterprise spending. We're seeing signs that telecom is starting to catch on. But if you look at a company like Cisco, where two-thirds of their business is tied to enterprise spending, we're still in this quagmire.Michael Davies
It's a mixed picture, ... If they cut it by a quarter point, that might be good. Anything greater than that, I think people will take a step back and say, Maybe the Fed sees something we don't, that the economy's a lot weaker than we originally thought. That will start to put pressure on to tech stocks in general.
Michael Davies
Everything is overshadowed by geopolitical events. Tech stocks appear resilient in their financial performance, yet we're struggling to attain that in the stock performance.
Michael Davies
We don't have any concrete fundamentals to give the market direction, ... I thought that the war being over would translate into corporate IT purchasing, but that hasn't happened.
Michael Davies
The enactment of all kinds of laws is an advancement, but the difficulty is how to make sure it all works,
Michael Davies
On the other hand, I think 2-to-4-percent growth is good. I was hoping for better, but I think we're finally hitting bottom here.
Michael Davies
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