Technology Stocks - do Apple fans remember digital ?

A close family member of mine worked at Digital Equipment Corp. (D.E.C.) for many many years.  And he put all of his retirement savings into its shares - after all he got them at a discount.  The stories were that "Digital" was an industry leader, making chips in the 1990's with x millions of floating point operations per second ... yada yada yada - it was a sure thing he'd say.  You may be using their ethernet network technology this very instant, but as for the rest, you can read the history of the company online.
Basically, after struggling in the early 1990's pieces went to Compaq, then bought by Hewlett-Packard in the new millenium, and we know where the HP story is going now (NYSE:HPQ).  The eventual failure of technology companies is a common theme in the market, whether its PCs running Windows replacing VAX's running Unix back then, or Tablets running Android and Apple OS replacing PCs today ... so beware.

Today said family member says "never buy stocks - its too risky" - unfortunately having been burned badly in DEC's downfall.  Its a lesson about diversification that hits close to home.  We have a few old recipe binders bearing the snazzy logo at home, and not much else to show for investment in a former technology titan.