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Strategies & Market Trends : Guidance and Visibility

AAPL 270.21

+0.4%

Nov 4 3:59 PM EST

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To: 2MAR$ who wrote (81097)	11/11/2002 8:44:47 AM
From: Venkie	Read Replies (2) of 208838

Q: Mention a few of your tech specs. A: There's OpenWave Systems. It trades around 1.15 and has a market value of $200 million. Artesyn Technologies is about $2.50 and has a market cap of about $100 million. Quantum trades for 3 and has a $500 million market cap. Q: What's the OpenWave story? A: OpenWave has more than $1.25 in net cash on its balance sheet. It trades for about 70% of revenues, which is very cheap for a wireless software company. OpenWave makes the browser software and applications for you to receive and manipulate data on your cellphone. The investment story is that there is an upgrade cycle coming in cellphone handsets because of all the new data services, like e-mail, wireless instant messaging, games and pornography. So if the stock were to trade up to one times sales plus one times cash, it would hit $3 a share. That's a modest valuation for a software company. This is a stock that traded above 200 in the tech bubble.

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