Intel Corporation (INTC) Message Board

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Technology Stocks : Intel Corporation (INTC)

INTC 41.41

+2.2%

Dec 5 9:30 AM EST

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To: Joseph Pareti who wrote (133103)	4/22/2001 1:11:55 PM
From: Bob Kim	Read Replies (2) of 186894

Joseph, Milunovich forgets that he and his tech analysts were recommending many of these stock at prices well above where they are now. Less than three months ago, ML's price target on BRCD was $250, until a few weeks ago, the price target on NTAP was $185. As a result, Mr. Milunovich said investors should not rush to buy technology stocks based largely on analysts' rosy growth projections. Yet some technology companies are trading at more than 50 times their earnings estimates. Siebel Systems, Juniper Networks and PMC-Sierra are just three of the companies in this amazing category. Is 50 a high PE? Here's what Milunovich said about MCDT last September: "Our 12-month price objective of $118 is 39X our F2001 revenue estimate of $329 million." "The stock has been trading at 205-290X F2001E earnings, similar to the 224-263X (based on consensus estimates) range of market leader Brodcade. McData's earnings multiple could expand as it moves to revenue-based valuations." [emphasis added]

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