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Technology Stocks : Qualcomm Incorporated (QCOM)
QCOM 168.09+1.8%Nov 28 9:30 AM EST
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To: jmac who wrote (82245)10/4/2000 9:56:02 PM
From: David E. Taylor  Read Replies (2) of 152472
 
jmac:

OT on DELL:

While I agree with you on the issue of MD's misleading pronouncements over the last few weeks about growth being on track at 30% this year, this sell off is way over done.

Even with the shaved revenue and earnings, DELL will still post around $32 billion in revenues and $0.90 EPS this FY. That's +26% on revenues and +47% on earnings over last year, and results in a PEG of about 1.0 on revenue growth or 0.6 on earnings growth. Dell is still the most efficient box maker on the planet, is expanding into new business areas. and will throw off $2.45 billion in after tax cash this year. But the stock is trading now (at $25.75) where it was in July 1998, when both revenues and earnings were 50% of what they are presently.

The oversold condition of DELL, INTC and others right now is as crazy as the overbought condition that got us to Nasdaq 5000+ in March this year, and at some point reason will prevail. The institution and fund managers must be salivating over this state of affairs, just watch what they do to everything over the next three months to fatten their year end bonuses.

Relax. Dell is not dead. I have it myself in the $30's, and I'm not selling it here.

David T.
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