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Microcap & Penny Stocks : Tokyo Joe's Cafe / Societe Anonyme/No Pennies

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To: MikeUSA who wrote (99257)	9/23/1999 4:11:00 PM
From: DanielleC	Read Replies (3) of 119973

This was the culprit! What an A**hole! Microsoft Pres. calls tech stock values "absurd" SEATTLE, Sept 23 (Reuters) - Microsoft Corp. <MSFT.O> President Steve Ballmer on Thursday said valuations on technology stocks have reached "absurd" levels, and even his own company's shares may be overvalued. "There is such an overvaluation of technology stocks, it is absurd," Ballmer said to a group of journalists here at a technology conference being given by the Society of American Business Editors and Writers. "I could put our own company and others in that category." Ballmer's comment came in response to a question about which stories are undercovered by the business media. Asked then what Microsoft's stock price should be, he said, "less." "I used to believe in the theory of perfect markets, but I no longer believe that," he added. Microsoft shares were off $4 at $92.06 in late-afternoon trading on the Nasdaq market. Ballmer's presentation to business writers included a general overview of Microsoft and the growing importance of the Internet in its future business strategy. He said he saw the office software business evolving to a service model in which users would take only certain features over the Internet. 15:38 09-23-99 Copyright 1999 Reuters Limited. All rights reserved. Republication or redistribution of Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon. All active hyperlinks have been inserted by AOL.

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