Altaba Inc. (formerly Yahoo) Message Board

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Technology Stocks : Altaba Inc. (formerly Yahoo)

AABA 19.63

0.0%

Nov 6 4:00 PM EST

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To: Don Westermeyer who wrote (4793)	12/20/1997 10:37:00 PM
From: Bill Harmond	Read Replies (1) of 27307

Don, Here some detail of the Morgan Stanley Dividend Discount Model: S&P 500 equilibrium point S&P 500's with US 30-Yr bond yield at Oper Earnings 5% 5.5% 6% 6.5% 7% =========== ==== ====== ==== ====== ===== $43 1006 913 832 763 701 $44 1025 930 848 776 714 $45(1997 est) 1044 947 863 790 726 $46 1063 964 879 804 739 $47 1082 981 894 818 751 $48 1102 998 909 832 764 $49(1998 est) 1121 1016 925 846 777 $50 1140 1033 940 860 789 $51 1159 1050 956 874 802 $52 1178 1067 971 887 814 $53 1198 1084 986 901 827 S&P 500 closed Friday at 947; the US 30-yr bond just under 6%, pretty close to fair value based on 1998 earnings estimates You can see how the value point changes with long-term rates or S&P 500's composite earnings. The current debate seems to focus on whether that $49 is achievable.

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