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Earnings and Downgrades Keep Things Volatile

Investors aren't sure about which way to bet on Yahoo! et al.

Downgrades and earnings. These are the two factors keeping high-tech stocks as volatile as

Mike Tyson

will be Saturday night when he fights

Francois Botha

.

First,

Yahoo!

(YHOO)

,

Lycos

(LCOS)

and

Excite

(XCIT)

were downgraded by

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Deutsche Morgan Grenfell's

Alan Braverman late Wednesday. All three have toyed with both the upside and the downside in early trading.

Yahoo! was recently up 4 7/16 at 373, but had fallen as low as 365 15/16 at one point. Lycos was down 4 11/16 at 92 1/2, hovering in the 92 to 101 7/8 range. Excite was down 5/16 at 69 3/8, but had climbed as much as 74 3/8.

One stock where downgrades and earnings have met head-on is

Apple

(AAPL) - Get Apple Inc. Report

. Despite earnings that beat even the most optimistic expectations, Apple was trading lower on profit-taking and a downgrade by

Salomon Smith Barney

. An upgrade by

Donaldson, Lufkin & Jenrette

to buy from market outperform failed to enthuse investors. Apple was down 2 5/16 at 44 3/16 in early trading.

Shares of

Advanced Micro Devices

(AMD) - Get Advanced Micro Devices Inc. Report

are hurting after the company reported earnings late Wednesday that were below expectations. AMD is off 3 5/8 at 24 1/8.