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Strategies & Market Trends : Screening for Stocks
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To: B.K.Myers who wrote (3)8/27/2000 5:36:53 PM
From: B.K.Myers  Read Replies (1) of 66
 
Sun Microsystems Inc

Sun Microsystems Inc appeared on my Fastest Growing
Companies Screen. I currently have a small position in SUNW
and enjoyed its recent run-up. But I have been concerned
that it might be getting ahead of itself and could be
vulnerable to a pull back.

First I looked at Investor’s Business Daily
(http://www.investors.com/) for their ratings. Here is
what I found.

Overall 99
Technical 99
Fundamental 93
Attractiveness 97
Group Technical 77
Group Fundamental 61
EPS 98
RS 94
Grp RS B
SMR A
Acc/Dist A

Sun Microsystems is included in IBD’s “Computer-Manufacturers”
Industry Group. This group has suffered a slight pullback
since earlier this year and could be going through a
cyclical phase.

Fundamentally, Sun seems to be hitting on all cylinders.
Sales and EPS are both up as are their growth rates. Their
balance sheet still looks solid. A good Return on Equity
(TTM) of 31.15 and Return on Assets (TTM) of 16.34 shows
continue good management.

In mid July, Sun announced good earnings, a two for one
stock split and the stock broke up on strong volume. It
has continued to perform well, rising about 25% from the
breakout price (approx. $100) to its current price of
$124.75, but volume has been weakening.

A couple of things concern me though. The recently
announced stock split is the second split in the past
twelve months and third in the past two years.
Technically, SUNW appears to be currently overbought.
Along with the declining volume during the recent run-up,
this overbought condition could indicate that SUNW might be
set for a pullback.

Any weakness in the general market or in the
Computer-Manufacturers Industry group could result in a
decline in SUNW. I will have to watch the market and the
industry for any weaknesses that could affect SUNW.
Meanwhile, I will continue to cautiously hold my shares.

B.K.
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