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Byline: Mike Angell, Brian Deagon & James DeTar
It's a new month and -- perhaps -- a new day for technology.
No less than seven reports released Tuesday speak of better days ahead for chips, cell phones, networking gear, software, business hardware and spending on tech products and services in general.
But not so fast, say many observers. Michael Dell, chief executive of Dell Inc., on Tuesday cautioned that big companies still aren't spending big on tech. Intel Corp. Chief Executive Craig Barrett said much the same thing last week.
Lehman Bros. analyst Dan Niles points out that the economy suffered major blows in the first half, thanks to the war in Iraq and the SARS virus epidemic.
"The only factor that scares me is if people say that it's a good second half vs. the first half. And people are starting to talk like that," Niles said. "That's not valid."
Still, the tech-heavy Nasdaq composite index rose 31.03, or 1.7%, to a 17-month high. The tech reports helped: