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Strategies & Market Trends : Guidance and Visibility

AAPL 268.42

-0.5%

Nov 7 9:30 AM EST

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To: Smart_Money who wrote (78688)	10/18/2002 12:48:16 AM
From: SusieQ1065	Read Replies (4) of 208838

The hot news after the bell was the huge earnings win from Microsoft. Their 50 cent earnings beat estimates of 43 cents by a mile. The reason was a one time last chance sale of software licenses. Their old license plan changed as of June 30th and there was a rush to buy software at the old terms. They beat the revenue number of $7.1 billion with $7.75 billion as well. The key point here is that this is not a repeatable event. MSFT lowered their guidance for the 4Q to 45-46 cents and the street was expecting 50. That was ignored. The MSFT CFO said on the conference call that the "tech spending environment remains tough". The stock did bounce in after hours but only about $2.50 as traders realized that it was not from new business as much as just a change in sales methods. ~Jim Brown

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