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Technology Stocks : Gateway (GTW)

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To: Karl Stearns who wrote ()	6/17/1996 8:36:00 PM
From: Fred Fahmy	of 8002

Karl, Earlier, GATE made comments which amounted to a forecast of flat Q2 earnings vs Q1. This would be excellent given their historical seasonality. GATE has always shown less earnings in Q2 vs. Q1. GATE earned 0.65 EPS in Q1. I believe the Street expects 0.61 (from Zacks) for Q2. If GATE really does stay flat for Q2, I think the street will view this as positive. GATE's comments suggesting a flat Q2 were made at the same time they announced Q1 results. I haven't heard anything that would indicate either way if GATE is still confortable with this outlook. I have held GATE long since it IPO'ed about 2 1/2 years ago. It has been a great stock, but has been relatively volatile. I think the annual estimate the Street is expecting for the year is around 2.65-2.85. Given that the fourth quarter is usually very strong, I don't see this as a problem. Personally, I am hoping they can post EPS around 3.00 for the year. At a P/E of 17, this would suggest a stock price of over 50. I hope you find some of this usefull. Happy investing, FF

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