Word: tech
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Dates: during 2000-2000
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...rally may yet come. As noted, the bulls can make a case, one largely hinged on lower interest rates. But for now, rates are steady, and the bears are in control. Long-term investors may want to start building positions. Don't be surprised, though, if tech bellwethers sink more before a sustained recovery. That's especially true of those with rich valuations like Cisco and fiber-optics darlings Corning and JDS Uniphase...
Forget the profitless dotcoms. Better to hunt for beaten-up telecom stocks like Verizon and WorldCom, which are now popping up on the screens of dyed-in-the-wool value managers. The tech tortured can seek solace among energy services, banks and insurers, consumer staples and health care. Stay diversified and somewhat conservative. An all-purpose growth-and-income fund might be just the thing. Bonds are also a decent place to hide while the market is seeing a dark cloud behind every silver lining...
With George W. Bush possibly sustaining a lead of fewer than 400 votes after last week's statewide recount, the outcome in Florida, and thus the nation, has shifted to the most low-tech of fronts. Everything hinges on the absentee votes still drifting in from abroad, which are not expected to be fully counted until this Friday. Even more important, because they could easily reverse Bush's narrow lead, are the manual recounts that have been approved by local electoral commissions in Palm Beach, Broward and Volusia counties...
...India's prowess in information technology isn't a new phenomenon. For years, the southern city of Bangalore has been a high-tech oasis where Indians write code for international tech giants and export software to the world. But the Net promises to push the IT boom into India's mainstream. Cities like Hyderabad, Bombay and New Delhi are promising telecom links and tax holidays to prospective business investors. "India always had the talent, but with the Internet, we've found the delivery mechanism to transport this talent around the globe," says Prakash Gurbaxani, who set up his own dotcom...
...beneficiaries of that backwardness is the U.S., which has attracted top-flight Indian techies and entrepreneurs with minimal effort to feed its hungry high-tech sector. But the Internet has begun to sneak through the barriers India erected against the outside world. Now the largest national pool of engineering talent in the developing world, a good proportion of which speaks English, is able to set up shop at home. Those engineers' underemployed sisters and cousins have proved willing to work cheaply at a new crop of labor-intensive jobs made possible by the distance-bridging technology of the Net. "Finally...