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Politics : Ask Michael Burke

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To: Knighty Tin who wrote (81668)	6/14/2000 11:01:00 PM
From: Spekulatius	Read Replies (1) of 132070

Well I tried to compare MU with IFX but the results are not that conclusive: MU IFX Sales 2.977B$ 4.237B Euro Depreciation 606M$ 573M Euro Total Liab.+ Eq.7.700B$ 6.445B Euro So it seems that MU's depreciation is lower then IFX's and also IFX gets more revenue out of every $ invested (partly because MU had more liquid assets in 1999 then IFX. IMHO both look actually pretty bleak since they have to invest 1.5$ for every $ in revenue, so even at a 20% margin this yields only a RONA of 13.3% with the current boom. Siemens has been traditionally very aggressively depreciated and maybe this has been transferred to IFX too. I have shorted IFX @80$ to hedge my portfolio a bit against a sudden market drop but MU looks as bad as IFX - or should I say as good as a short as IFX.

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