Newspaper article St Louis Post-Dispatch (MO)

Chip Dip Whets Appetite for Some Investors

Newspaper article St Louis Post-Dispatch (MO)

Chip Dip Whets Appetite for Some Investors

Article excerpt

U.S. stocks will probably pare their losses next week as battered and bruised technology shares, such as Intel Corp. and Microsoft Corp., become the market's darlings again.

The reason is simple. Technology stocks are up about 75 percent in the first half of the year. The average stock fund is up about a fourth of that.

A significant number of mutual-fund managers still want to add techs to their portfolios, said Philip Tasho of Shawmut Investment Advisers Inc., which manages $16 billion. "And they are going to snatch them up on this dip."

That means shares of the computer software and semiconductor companies that tumbled this week after reporting disappointing second-quarter earnings will regain some of the ground they lost, said Alan Bond, chief investment officer at Bond Procope Capital Management.

"The stocks that lost simply dropped to 30-day averages, and that signals the time when the stocks should be bought," Bond said. "I think we'll see some companies step in and buy their stocks here at lower levels. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.