How high will Microsoft fly? Message Board

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Technology Stocks : How high will Microsoft fly?

MSFT 478.53

-1.0%

Dec 12 9:30 AM EST

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To: ericneu who wrote (28524)	8/23/1999 8:30:00 PM
From: taxman	Read Replies (1) of 74651

Redmond, Washington, Aug. 23 (Bloomberg) -- Shares of Microsoft Corp. rose 3.7 percent as J.P. Morgan analyst William Epifanio set a 12-month stock price target of 120 and raised his earnings estimates for the No. 1 software maker. Microsoft rose 3 1/16 to 86 7/16 in trading of 30.2 million shares, making it the second-most active U.S. stock. It led the Standard & Poor's 500 stock index higher. The Redmond, Washington-based company is selling more Windows NT operating systems to corporate customers instead of Windows 98, helping keep profit margins high because NT carries twice the profitability of Windows 98, Epifanio said. Microsoft's NT and SQL database software are also gaining market share. ``They (Microsoft) stand a very good chance of riding through any potential Y2K troubles better than most,' said Epifanio, who reiterated his ``buy' rating on the company. The Year 2000 bug is expected to delay some software purchases due to fear of problems resulting from the inability of some software to properly read the year 2000. Some software mistakes 2000 for 1900 because it reads only the last two digits of the year. Epifanio raised his earnings estimate by 2 cents a share to 40 cents for the fiscal second quarter ending Dec. 31 and to $1.57 a share for the full fiscal year ending June 30, 2000. The stock could reach 120 in the next 12 months, he said. Earnings also will be higher than previously thought because of Microsoft's growing use of fixed-term agreements for software and services sold to big companies, Epifanio said. These so- called enterprise license agreements are replacing piecemeal purchases. ¸1999 Bloomberg L.P. regards

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