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Nevertheless, it was a busy day for the tech stocks. Lucent (LU) said it will subtract $125 million off its previously reported earnings due to an accounting error. The bad news sent the network equipment makeris stock to levels not seen since January of 1998. Meanwhile, Nortel (NT), Lucentis Canadian competitor, promised it will —unlike…

Biotech stocks ($BTK) were off as a group about 8% due to a Barronis article suggesting the sector is in a value "bubble" much like the Internet stocks experienced earlier in the year. It certainly is the only technology sector still left well in the black for the year and may soon become the last…

Investor optimism was palpable as October, the most dread month of the year for the stock markets, came to an end and the historically best time of the year to own stocks began. The word from the floor of the NYSE is that fund managers are rolling up their sleeves and putting money back to…

The much weaker than expected gross domestic product in the third quarter means the stock markets wonit have to worry about the Feds raising interest rates again in November. Meanwhile, as the great earnings and growth at JDS Uniphase (JDSU) sink into investorsi collective consciousness, the recent panic selling in the optical networking stocks seems…

The talk among traders is that last weekis rally must have been too much to hold for many tech stocks. Meanwhile, investors are trading in sympathy with every negative earnings announcement. Perhaps more important are the accumulating signs of economic slowdown, which have many observers forecasting that the Nasdaq will be stuck in a trading…

Investors may not care for the slowing growth at Apple, but itis going to be difficult for Wall Street to punish the stock price much more. Fred Anderson, Appleis CFO, reported that Apple has $4 billion in cash and $800 million in investments, which means the companyis cash and investments, with the debt subtracted, is…

Tonight the Presidential candidates engage in a second debate. CNBC reported this morning that a survey of US fund managers revealed 62% believe Al Gore will win in November, up from only 7% in August. The real question for the financial markets is will the Republicans remain in control of Congress? The conventional wisdom is…

Apple sank 7/16 to close at 21 3/4 on volume of 10,666,900 shares. This is still 2 1/2 times normal volume before Apple announced its warnings earning, though once again volume is slowing. Apple announced that Mitch Mandich, Vice President of Worldwide Sales, will be retiring in December of this year. The Mac Observer covers…

Keynote speakers for the second-annual QuickTime? Live! conference on October 9 ? 12 at the Beverly Hilton Hotel in Beverly Hills, California include: Philip Schiller, Apple?s vice president of Worldwide Product Marketing When: Tuesday, Oct. 10 from 10:30 a.m. to 12 p.m. Frank Casanova, Apple?s director of QuickTime Product Marketing; award-winning filmmaker and director David…

Brokerage firm downgrades began to roll in this morning. Investors and analysts were rushing to disassociate themselves from the Apple catastrophe, in a wave of selling and downgrades of the likes rarely ever witnessed for a major corporation with eleven robust quarters under its belt. Investors wondered whether Appleis sales shortfall., in conjunction with other…

The momentum players began to jump in by midmorning as it became clear that the vitality in the stock market wasnit due merely to short covering. Todayis broad rally on good volume may indicate a solid bottom has finally been found after several weeks of searching. Apple stock soared by 4 9/16 or 9.32% to…

Itis never a good sign when the big cap technology stocks begin to break through formerly robust support levels, but thatis what going on this month in the stock market. Today, it was Yahoois (YHOO) turn to break through support on fears the company might not meet earnings expectations. Shares of Yahoo! fell 12 1/16…

For the first time in the eurois short existence the central banks of Japan, England, the US, Canada and the European Union intervened in currency markets to support the euro, which climbed several cents against the dollar. On Wednesday, the euro sank to all-time lows of 84.38 cents and 90.04 yen. The surprise concerted intervention…

A Reuters article noted that investors are in a cautious mood, "Bullish comments from one of Wall Streetis most influential market watchers, Abby Joseph Cohen, failed to rally the market. Investorsi worries that high oil prices and a weak euro will bite into corporate profits are "overdone" and will be "short-lived," according to Goldman Sachsi…

PC stocks bounced back after IDC said, "unit volume for the worldwide PC market should climb to 33.4 million in the third quarter, a 18.5 percent jump from the year-ago period, " according to a CBS MarketWatch article. IDCis Bruce Stephen was quoted as saying, "The consumer market will once again propel global PC growth…

Money that has been sidelined for months is just now beginning to return to market and as before the technology stocks are leading the way higher. Mark Jakob, a former employee of Internet Wire was arrested today for the Emulex (EMLX) hoax that last week crashed the stock intraday until the fraud was revealed. AP…

Apple continued to rally 5/16 to close at 59 1/2 on high volume of 5 million shares for the eighth day in a row. Yesterday, an ON24 audio report said Salomon Smith Barney analyst Richard Gardner, after meeting with Appleis management, reiterated his buy rating on Apple, with a price target of $70 per share.…

An ON24 audio report said Salomon Smith Barney analyst Richard Gardner, after meeting with Appleis management, reiterated his buy rating on Apple, saying the company is one of his two top picks in the PC industry, the other is Gateway. Gardner said that Appleis growth is 3 times the industry average, second only to Dellis.…

The stock markets are really dull this time of year and will remain so until September when everyone returns from vacation. Tomorrow when the Fed announces its interest rate decision at 2:15 EDT there could be some unusual volatility due to the low summer volume combined with large hedge fund trades on the news. Appleis…

Steve Jobs will appear on CNBC this afternoon at 5:45 EST to talk about Pixaris (PIXR) earnings, announced this afternoon at $0.16 per share, better than analystsi forecast of $0.14 per share for the second quarter. Revenues increased to $18.3 million from $13.5 million a year ago. Apple gained 1/4 to 47 3/4 on volume…