Dan, you are not a minority, but up until now a rather silent majority. If you compare 3Com with its competition it would make most of them pale. The Palm is part of 3Com, regardless of what they do with it in the future. So to say that 3Com is history without the Palm makes no sense. The Palm is probably the fastest areas of growth in the tech sector. In the last quarter revenues from the Palm grew over 50% while earnings grew 100%. With the roll out of the Palm VII nationwide and with brokerage houses like Schwab and Fidelity offering trading services via the Palm to their clients I see very healthy revenues and growth numbers for 3Com (which owns all of Palm). If the spin off is a success, 3Com will be the immediate benefactor, not CSCO,LU, INTC,NOK,ERICY or MSFT.
Now, if the current market cap of 3Com is $10 Billion and the company is spun off in the following manner:
3Com $5 Billion ($2 B in cash + JNPR,EXTR etc. in investments)
Palm $5-$25 Billion, depending on how the market reacts.
how can anyone not except this as a value stock?
No matter how you analyze this stock it is a table pounding buy. One more quarter of positive earnings will make this stock fly and I think that is just around the corner.
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