from marketwatch.comhttps://www.marketwatch.com/news/yhoo/story.asp?source=blq/yhoo&siteid=yhoo&dist=yhoo&guid=%7B9C8EF02C%2D0BD0%2D4710%2DB52C%2D07D7E444450B%7D
Bulls scatter across the Web
Investors convinced of a tech market shift
By Shawn Langlois, CBS.MarketWatch.com
Last Update: 2:08 AM ET March 26, 2002
SAN FRANCISCO (CBS.MW) - The virtual peanut gallery, perhaps the only gathering on the planet with more manufactured drama than the Academy Awards, finally seems to be regaining confidence in the tempestuous stock market.
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The bulls, after enduring what has surely seemed like a Randy Newman-esque drought, have been busy practicing their victory speech, convinced that their time will come.
And thanks to a smattering of thumbs-up analyst reviews and golden words from pundits like Alan Greenspan, the tech faithful have had reason to get excited -- not quite Halle Berry excited, mind you -- but excited nonetheless.
Take DBW100 who, despite word of a $54 billion charge, stood by beleaguered media giant AOL Time Warner on Raging Bull: "The only reason AOL (AOL: news, chart, profile ) is trading at its current price is because of the Janus fund. When they finish unloading which will be very soon, the stock will be back in the 30s in no time. At these prices AOL is way under valued."
Over on Oracle's board, TuranDot rolled out the red carpet for his beloved database giant, weakness in Asia notwithstanding: "The economy is improving ... could you wish for a better stock than Oracle (ORCL: news, chart, profile ) to ride up with? They're still profitable because they're not pressured in lowering their prices to compete with lower grade merchandise.... I like the CEO too, he appears to be a straight shooter ... again, a rarity these days."
More of the same for Yahoo from MarkRach following the Web portal's flight to fee-dom: "I have a good feeling on Yahoo (YHOO: news, chart, profile ) this week. I just think the company saying that they will be charging for services is good news. New revenue will grow earnings. Earnings growth will drive the price of Yahoo higher. I don't see how, if revenue continues to increase quarter over quarter, and expenses are contained, why the price wouldn't be higher."
And this year's winner for Best Imagination in a Supporting Role goes to SwingingThisMarket and his price targets for JDS Uniphase: "If you are a long-term investor then JDSU is a no-brainer from these levels. We all should know that JDSU will be a $20 stock again, maybe even $50 or $4,100 -- who knows -- but one thing I do know is the demand for fiber optics and where the future is at. I will keep accumulating JDS Uniphase (JDSU: news, chart, profile) under $7 then hold that position out for 2-3 years min."
Speaking of demand, BeWay didn't let the music cut his bullish rant short: "When someone uses broadband they will never go back to dial-up. They will also require a computer upgrade. The whole system continues to grow, which is why the idea that the telecom sector is dead is so ludicrous.
As the "exit, stage left" melody began to fill the air, BeWay made it clear that he wasn't budging until he was good and ready.
"It will be a long time before fiber goes the last few feet, but that is not the problem. The problem is with the businesses and the individuals who are unwilling to spend the few bucks it takes to keep up with technology. It is all about to change soon and that is the reason that I am invested in the US."
Don't get me wrong; there were plenty of Whoopi Goldbergs in cyberspace, doing their best to ruin the festive mood, but popular opinion calls for a stock market resurgence sooner rather than later.
Stop by CBS MarketWatch.com's Community and share your thoughts.
Shawn Langlois is community editor for CBS.MarketWatch.com in San Francisco.