Ned Riley Tech Quotations

There is a serious shift going from the growth companies in the old economy to growth companies in the new economy that have been quite tarnished over the past nine months. The tech recession was the catalyst and we are genuinely seeing a slowdown in old economy sectors.

Fundamentally, I think that many of the reports, from companies like Intel, Apple and IBM do portray a relatively sound tech environment. But people are anxious right now generally.

What we have now is an economy that's slowing down. I think we're going to see some cyclicality to tech earnings.

What we have now is an economy that's slowing down, ... I think we're going to see some cyclicality to tech earnings.

I think the story is going to be the same going forward. We're going to see the tech companies reporting well. But the high interest rates we've seen so far have undermined some of the financial stocks and drug stocks.

Today's market and the market in September reflect skepticism around the sustainability of this incredible trend in demand in the economy and tech products in particular, and also in profitability.

We're at the end of the quarter and people are consolidating a little bit. April could look better if we can see some tech names assert leadership.

Today we're in the bottom- fishing mode and there are a lot of people who think the tech correction is complete and we've established our lows for this cycle.

You had to be in tech to win in this period.

There was a combination of things that really depressed it. One was Hewlett-Packard's shortfall and we had a sympathetic sell-off using the political environment as a backdrop. Ironically, IBM remained the stalwart and it probably gave the notion of stability to the tech sector and we saw some people looking for bargains.

The worst point of the tech cycle is probably upon us now, but the actual results and the commentary on earnings are no surprise. There's a selling exhaustion in regards to tech stocks. People are trying to focus on the road ahead. Looking forward; there is a lot of upside potential.

As we start the new year, we could see tech get a slight boost, but then I think investors will turn to consumer stocks as the economy continues to recover.

I clearly think this is just another manifestation of a recovery that continues to be underestimated by the Wall Street community. Not only Cisco, but the whole tech sector has blown away estimates. I would be truly surprised if the market doesn't have strong futures and a positive start Thursday.

The Dow is still going to attract because investors still want to diversify away from a purely tech portfolio and find value.