IBM Message Board - Msg: 2953122

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Technology Stocks : IBM

IBM 305.75

+0.3%

Nov 14 9:30 AM EST

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To: J R KARY who wrote (1981)	12/12/1997 7:03:00 PM
From: Robert Scott Diver	Read Replies (3) of 8218

Jim, Must be getting close to options expiration again, the bears are posting to each other. IBM is generating cash at a clip that will allow them to keep buying back stock for the forseeable future. EPS will drive stock price as long as continued growth can be forecast. Holders, and potential holders, of the stock are not too fussy about where the EPS comes from. IBM should continue to drive down their tax rate. Tax rate reduction and buybacks are starting to be augmented by increased revenues. IBM's technical leadership is improving. I am amazed that none of the bears have noted that IBM has outperformed the NASDAQ over the last 6 months and has a PE below 17. If I were stupid, I would have the impression that IBM was dropping faster than the general market because it was a real loser. Many of the bears have been predicting disaster for a good while. Since the opposite has occurred, I wonder what has changed that finally makes them right? Apparently a lot of money is going to be lost if the stock can not be talked down. Of course if it does go down from here, I expect to move money out of bond funds to take advantage. Good luck with your investing. Scott

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