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Technology Stocks : Juniper Networks - JNPR

JNPR 39.95

0.0%

Jul 2 5:00 PM EST

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To: $Mogul who wrote (49)	6/23/1999 12:04:00 PM
From: Roger Zucchet	Read Replies (1) of 3350

So Goldman is pricing JNPR at $21-23 per share, and with 47.4 million shares outstanding, that gives a $1.09 billion IPO valuation for the entire company. IDC (quoted in the MarketWatch article) says the entire worldwide gigabit and terabit router market will increase to $1.4 billion by 2003, from only $135M now. Is the IDC estimate wrong, or does JNPR address a larger market? If not, it seems JNPR is pretty richly valued from the outset, and it looks likely that the stock will trade much higher than $23 on its first day. I'm just recalling the days when ASND's market cap far exceeded the size of the market it sought to serve. After skyrocketing, it fell back to earth, and after that made a nice recovery. Comments? What market cap for JNPR is sustainable today? -Roger

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