It, too, is selling at more than a 50 percent discount to its high of $59.69. "Because pricing pressure has shrunk computer markers' margins, the safest investments in the PC sector involve companies that have plenty of non-PC revenues on the books," said Richard Moroney, director of research for Dow Theory Forecasts, a popular investment newsletter. While Moroney believes Dell saw the difficulites coming to the PC market ahead of time and has begun a move to diversify, he is convinced Hewlett-Packard, which he rates as an "immediate buy," is even better positioned. Hewlett-Packard is selling at a 35 percent discount to its high of $136.19. "Hewlett-Packard offers some insulation against PC-specific concerns," he said, citing the technology firm's diverse revenue stream. Last quarter, Hewlett-Packard got 42 percent of its revenue from selling PCs and servers, 40 percent from imaging, 15 percent from information technology, and 3 percent from other sources.