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Don't Buy the Tech Story

By Jim Cramer

About this article:
The "bottom" the mutual funds are calling for in tech, the one that had Texas Instruments and National Semiconductor not go down, the one that I hear calling for endlessly because inventories are so low, will be tested today. I don't see either Research In Motion or Oracle helping the cause, although they won't hurt it because both reported terrific top-line growth and Oracle had the bottom line too. I just see the major semis, ex-Intel, heading back to where they weren't supposed to go back to because the bottom was supposed to be in. If you recall, the market's collective mind-set was that this was the last bad quarter and these companies could not go lower. That view got extended to Intel with its then-4.5% yield. Of course it got extended to the much-beloved Lam Research and KLA-Tencor and Applied Materials and the like -- although...

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