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Technology Stocks : All About Sun Microsystems
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To: Homer who wrote (5996)12/5/1997 3:08:00 PM
From: Fred Ayres   of 64865
 
Homer,

Very true.

However a move below $40 represents a change in stock value of less than 3%. At these levels and in this market such movements are very common. I was pointing out that Wiseowl could repurchase his shares if the 40 Call that he sold was exercised. So far SUNW has seen a nice run this week. With so many short term investors one would expect some profit taking in the near future. Indeed the most recent BusinessWeek reported SUNW as a stock with significant selling on price strength. This was reported for SUNW at 35 9/16. SUNW has seen a rise of cose to 15% in just a few trading days. While your argument is valid. I see a return to $40 as more likely than a runup to $150 with the current P/E. As Addi pointed out any increase in P/E resulting from strong growth will pump up the price.

Fred
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