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Technology Stocks : NEXTEL
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To: P.T.Burnem who wrote (3513)12/8/1997 2:53:00 PM
From: Mike V.   of 10227
 
PT. Keep the faith! Rome wasn't built in a day and neither will Nextel!

As we all know Nextel ran from $12 1/8 on 4/2/97 to $32 on 10/9/97. Even with today's drop to $23 and change Nextel is up approximately 100% in 8 months. To state that a stock with that kind of 12-month performance sucks IMO just means you missed the early gain.

The critical horizon for Nextel is 18 - 24 months, NOT DAILY, WEEKLY or MONTHLY changes in the price.

Nationsbanc Montgomery Securities forecasts a drop in capital spending as follows:

1997 - $1.4 billion
1998 - $1 billion
1999 - $475 million

The billion dollar reduction sure buys a lot of marketing or drops to the bottom line, I'll be quite happy to let Nextel's capable management team make the call.

The business we have bought is a communications service not a communication product, and it takes big money to build a world class communications service.

Am I concerned over the lack of upward movement in Nextel's share price - YOU BET I AM.

However, until there is a change in Nextel's business execution I continue to believe this is the single best long-term stock opportunity on the late 90's. Am I losing money on this stock - YES. Would I consider selling a single share - Not today, but I reserve the right to change my mind :-)

Mike V
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