Cisco is one of my bigger holdings, |
Cisco is one of my bigger holdings. But having said that, I would not buy the stock simply on valuation. |
Euphoria can only go on for a certain amount of time. Eventually reality wins out. |
I don't know if it [the stock drop] was warranted or not, |
I don't think we are going to see a big downdraft here. It's going to be a more selective market. It's been very easy, frankly, in technology over the past seven or eight months since the market bottomed in October. |
I have a feeling that things are going to slow down, with more of a transition phase this summer and we're going to have a very good fall and winter. |
I really do believe it's time to buy and that's sort of a change of position for me. We've always felt that we have to test the bottoms that we've seen. We had a bottom April 4, and another a week ago, Friday. What you're seeing today is probably that test, and I really don't think the market is going any lower - I'm defining the market as the Nasdaq. |
I think to a certain extent it's a bounce. These stocks have been down quite a bit. |
If you look at the dynamics of the business, they're continuing to grow, ... If you start building out the business mode, it's almost a cable company. |
It has been a very difficult 14 months for technology stocks, |
It may have gone a little too far, too fast, |
It reflects the fact that this area has remained really robust. |
It wasn't a bad quarter, |
More and more software, more and more corporate business is going to be stored and done over the Net, ... And that's where Oracle could do very well. |
My gut feeling is the Nasdaq has made its low. |