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A rocky road for tech stocks
European investors (1) ….. (watch) US stock markets nervously over the last
few months. The problems with US technology and telecoms stocks (2) ….. (begin)
last March, and since then share prices at companies like Intel, Apple and Dell (3)
….. (crash). Over the summer all these giants (4) ….. (announce) lower than expected
profits, and investors fear that demand for PCs in the highly developed US market (5)
….. (peak). Now it’s the turn of European stocks. On Monday stocks in companies
like Germany’s SAP and Finland’s Nokia (6)….. (fall) sharply. SAP (7) ….. (be)
down 3% in Frankfurt, and Nokia (8) ….. (drop) 7% in Helsinki.
But there was some good news for investors yesterday. Yahoo! (9) .….
(release) figures which showed that in the last quarter revenues (10) ….. (rise) to
$295 million, up from $115 million a year earlier. Yahoo! Relies on online
advertising for most of its income, and this year it (11) ….. (gain) significant market
share in Europe and (12) ….. (manage) to achieve the position of top Web-navigation
company.
Analysts believe that the market (13) ….. (not/hit) the bottom yet. Earlier this
year investors (14) ….. (buy) any Internet stocks that were available, creating a stock
market bubble. Now it’s just the opposite. Investors (15) ….. (become) so nervous
that they are selling everything, even if the company is sound and the stock looks
cheap.