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Tech Firms Could See a Drag From the Euro

By Bob Faulkner

About this article:
A couple weeks ago, Jim Cramer suggested being wary of companies with big foreign-exchange exposure. That warning came home last Friday morning during Nokia's conference call, when the company highlighted foreign exchange as one of the reasons behind its negative outlook. You can see quite easily that the euro is down 20% vs. the dollar over the last five months, and it's actually down about 15% from last year's level. Click here for larger image. So who is exposed? More than a few companies are generating a significant amount of their revenue in Europe. Juniper Networks, Lexmark, Network Appliance, Oracle, Sun Microsystems and Symantec all generate more than 30% of their revenue from Europe/Middle East/Africa (EMEA). My initial guess was that the leader of the pack would be Hewlett-Packard. However, at 40% of revenue from EMEA, Hewlett takes only second place and,...

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