Sarmad, here's another Billy pick at 300.
At 9 an accountant wouldn't buy it, because of all its debt. But a speculator like me thinks it could go to 27.
>Last Update: 6:28 PM ET May 1, 2001
SAN FRANCISCO (CBS.MW) -- Steven Wolfe, director of investor relations for Akamai (AKAM: news, msgs, alerts) , told analysts and investors at the JPMorgan H&Q technology conference on Tuesday that new products will allow the company to increase sales to existing clients.
He said the company's new EdgeSuite products will provide a range of information technology services. "We provide cost-saving by outsourcing your IT infrastructure," he said.
"Certainly it's a tough environment out there," Wolfe said. But he said the company will get through the current economic downturn by maintaining, and upselling, the current base of 1,400 recurring customers. He stressed that the client base is on solid ground, with only one-third being dot-com companies.
He said the company expects to be cash-flow positive in the second quarter of 2002.
Akamai shares were down 37 cents to $9.08 on Tuesday. |
