Dell is a company that I think may have some value here but as its earnings growth comes down I think investors are looking at a multiple closer to where earnings growth rate is starting to show signs of bottoming out.
More Quotes from Walter Winnitzki:
When you cut through some of the issues associated with Asia, the underlying demand for personal computer technology is still quite healthy.Walter Winnitzki
These stocks are pretty much earnings driven. If the earnings come through, I think the stocks are going to move higher and, on balance, I think we are in a healthy environment, which bodes well for stocks in this whole group.
Walter Winnitzki
Investors are looking at tech and saying that any gains in the industry will lag a broader recovery. That's true generally, and it's maybe especially prominent right now.
Walter Winnitzki
There's lots of across-the-board tech selling, but the moves are little. There's no big company news that is having an impact on any particular sector within techs.
Walter Winnitzki
The general tech market has recalibrated their investment view that there's going to be very little tech recovery, very little pick-up in IT (information technology) spending in 2002 they're putting it off until at least 2003. So people figure, why buy these companies now
Walter Winnitzki
What we're seeing with tech is consistent with the last few weeks and before. There's a lot of red out there and it doesn't seem to be any one sector in particular.
Walter Winnitzki
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