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Technology Stocks : WCOM
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To: JDN who wrote (4921)8/20/1999 3:36:00 PM
From: PDL  Read Replies (1) of 11568
 
I'm no chartist, JDN, but WCOM has (with today's decline) retraced to it's late December 98 level. Today's drop (I assume) is sympathy for FON's 11%+ drop and the accompanying concerns of pricing/margin pressures.

If the many analysts who are predicting $2.95 EPS in FY 2000 are on or close to correct, you can buy WCOM today at P/E of 25X that number. With its current and projected growth rate, most of these same analysts view a 35-40 multiple appropriate (which would bring WCOM into the $110-120 range by the end of this year when investors will start valuing on the projected EPS figure). I think it's dirt cheap here... but then I'm super long.

For anyone with a reasonable time horizon, this has to be a good entry point... Doesn't mean it won't go lower (Fed announcement next week and who knows what will happen if/when China initiates a war with Taiwan) but barring a calamity, this will look like a super entry point a few years from now (maybe even 3-4 months from now). JMHO.
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