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Byline: Leo Fasciocco
Investor's Business Daily
The nation's top mutual funds were heavy buyers of leading computer and telecommunications stocks in their latest reporting periods.
The theme underlying those buys: the Internet's expansion.
As business continues to grow on the Internet, demand rises for software to facilitate Web sites and for memory to store data and high-speed connections. The top funds are buying shares of firms that provide those tools.
Some of th
e key top fund buys in software were Oracle and I2 Technologies, according to data compiled by Investors Business Daily.
In the computer product area, EMC and Sun Microsystems were the choice of many funds. A top buy in telecom was Nortel Networks.
Apart from tech, IBD found two stocks in the Medical-Ethical Drugs group that were under accumulation. They were Elan, …