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Technology Stocks : 3Com Corporation (COMS)

COMS 0.00130

-13.3%

Nov 7 11:47 AM EST

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To: Amir Desai who wrote ()	3/2/2000 5:04:00 PM
From: serious_stuff	Read Replies (5) of 45548

Excellent DJ article on the current COMS/PALM disconnect. I got it from the subscription-only WSJ site, otherwise I would post the whole thing. But this is good news in that these discrepancies, once brought into the light, usually don't last very long... Here is an excerpt: START QUOTE: At Palm's current stock price of around $93, 3Com's stake in Palm (532 million shares) is valued at around $50 billion. Yet, 3Com itself has a market capitalization of around $28 billion. That's placing a value on 3Com's Palm stake (about $22 billion less than what it appears to be worth) along with some real businesses that make money (which isn't being taken into account at all). Another way to look at it is like this: 3Com's stock is currently trading at $82 a share. Yet, the stake the company owns in Palm is worth $144 a share. What happened to the other $62 a share? Is the market telling us those other 3Com businesses are worth a negative $62 a share? END QUOTE

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