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Technology Stocks : Compaq
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To: Elwood P. Dowd who wrote (69498)10/22/1999 12:22:00 PM
From: Steve Lee  Read Replies (1) of 97611
 
>>And this is a Fortune 100 company? How?<<

Because PC's did not used to be competitive in the business market and companies would pay top dollar for brand names rather than risk buying dodgy cheap goods.

However, now we have Dell and their like selling quality at prices that Compaq cannot match. Compaq will not go bust but they will not be able to change their business model overnight, or within a year for that matter so the prospects of earnings growth sufficient to support the multiple are dim.

Another downward move on high volume today. IBM up, DELL up, CPQ down. This is not an IBM thing, this is a CPQ thing.
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