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Technology Stocks : Compaq
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To: Kashish King who wrote (20193)3/7/1998 12:42:00 AM
From: Larry Myers  Read Replies (3) of 97611
 
Rod,

I think CPQ management is entirely too savvy to have stuffed the channel to the extent that they did if they did not truly believe the product could be sold. They knew the risks involved. The result is now history and I view it as a poor business decision made in a fast changing industry but not fraud. This company has done well by its' management and will do well in the future. I truly believe management has lowballed the earnings predictions of break even, will top that and the stock will recover quickly. The air is now cleared and a lot of uncertainties have been removed and the stock has very little downside risk left in it. At 25 this stock has a pe of about 19 based on the 98 earnings numbers I am hearing tonight. Anytime you can buy a company like CPQ at 19 times earnings you better do it. I think a lot of people will come to this realization next week and the recovery will start quickly.

Just my opinion and I welcome and respect differing opinions.

Best to you,

LJM
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