SYQUEST Message Board - Msg: 2423287

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Technology Stocks : SYQUEST

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To: Michael Coley who wrote (4247)	10/12/1997 10:26:00 AM
From: Joe Reich	of 7685

I can't believe I've joined the bears on SYQT!!! You and Dale, etc. are right on the money on this. Although I'm still bearish on IOM (can't believe the continuing meager earnings on stellar sales). P/E is still too high for me. SYQT, on the other hand has no P/E. Since the float is now up to "only" about 60 mil shares, the irrational exuberance may yet drive SYQT up a few more points. Somebody is gonna take a beating when the bubble bursts (again). If we apply IOM's P/E about 40 to SYQT (generous indeed), they'd have to EARN over 14 cents a share at current valuations. That means a NET PROFIT of $8.6 mil per year - the number doubles to $17 mil once the full 120 mil shares are out - doubles again to $34 mil when the new authorization of 240 mil is out. Of course double those numbers again if the stock goes above $10. Considering SYQT has LOST $61 mil on sales of $141 mil in the past year, they've got a ways to go... UNBELIEVABLE!!! Regards, Joe

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