Backing The Web's "Picks And Shovels"

A lot of gloomy faces showed up among 3,500 money managers who attended a recent Hambrecht & Quist technology Conference in San Francisco. But they still liked a lot of the upbeat stories from some tech companies. "In spite of the drop in tech prices, we found little to dampen our enthusiasm for quality stocks," says Mike Murphy, editor of the California Technology Stock Letter. Tech products, he observes, will continue to sell well because of the productivity enhancements they offer.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.