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Technology Stocks : American Power Conversion
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To: Phillip Crone who wrote (1907)1/2/1998 3:42:00 PM
From: The Ox   of 2574
 
Thank you for your comments. You write:

I don't like buying products or stocks that charge a premium, like APCC....

With a forward P/E (at end of 1997) looking around 18 and a current trailing PE at 20, I fail to see how a company that has a consensus growth rate over 20% can be considered to be charging a *premium*? Fair value maybe more accurate but I still feel APCC is undervalued at the current stock price.

At the beginning of 1997 the estimates for APCC's EPS growth for this fiscal year was around the 22% range (similar to the current estimates for 1998, BTW) and now we will see actual EPS growth closer to 30%. I think we will see slightly slower but similar growth for APCC next year in the 25 to 27% range.

I, like you, prefer to buy companies I feel are undervalued, rather then fair or over-valued. I have to completely agree with you that if APCC hits 13, it is a great value for any portfolio (under the current fundimentals!).
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