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Technology Stocks : All About Sun Microsystems
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To: Yiren Huang who wrote (3413)7/29/1997 1:36:00 AM
From: Andy M.   of 64865
 
Ronnie,

I wouldn't expect Sun to go below forty, or even get too close to it, until after a disappointing earnings announcement or a market meltdown (and maybe not even then). At 40, Sun's P/e would be about twenty. With revenue growth last quarter of 26% and with management saying in the conference call that their annual revenue growth could go north of what it's been averaging for the last several years, it seems a p/e of twenty would be a floor for this stock, one it wouldn't touch for more than an hour. Market psychology with respect to Sun seems to be like an enormous ocean liner: it takes a long time to turn around. Now it is pointed north. There's a perception that not only has Sun faced down the Nt threat, but that they really might be fit to challenge Wintel for dominance. With so many analysts touting Sun, it really has to have bad earnings to drop down to forty (which seems unlikely); it won't just drop due to profit-taking or old worries. Just an opinion.
Andy
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