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Technology Stocks : 3Com Corporation (COMS)
COMS 0.001600.0%Jan 9 9:30 AM EST
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To: dougjn who wrote (9821)11/7/1997 9:40:00 PM
From: Glenn D. Rudolph  Read Replies (1) of 45548
 
Street is coming to realization coms won't make earnings, big modem problems, doesn't know when they end. We will see a slew of downgrades next week, more underperformance of market direction. Dougin, There is not much gross margin in consumer modems. That does not seem to be an issue. The RAS has better markins and I am not sure there is an inventory problem there. This is the rcent ML comment: "Investment Highlights: . As we anticipated in our September 24, 1997 note, management has taken an aggressive approach toward reducing channel inventories. . Management spoke at an industry conference on November 5, 1997, and indicated that the company has been holding back shipments of its adaptor cards in order to reduce excess inventory levels in its channels. . At this point in the quarter, 3Com believes they are more than half way to achieving their goals of inventory reduction and the company is now accepting orders from its channels. . We estimate that 3Com continues to lead the adaptor card segment with more than 33% market share. . We are maintaining our estimated fiscal 1998 EPS of $2.30-2.35 and estimated fiscal 1999 EPS of $3.00-3.10. . We continue to recommend purchase of the common stock." Glenn
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