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Non-Tech : Any info about Iomega (IOM)?
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To: Michael Coley who wrote (50924)3/23/1998 11:56:00 AM
From: Jock Hutchinson  Read Replies (1) of 58324
 
Mike: As you know most storage companies sell at multiples of 10 to 13 because of the commodity like nature of their business and competitive pricing. As a long term bull on IOM, what do you feel should be its long term PE? The glory days of 100 or 50 are over. It would seem to me that given its so-called loyalty a PE of 15 might be acceptable. that might leave IOM with a current "fair value" price of about five dollars. And this nonsense about IOM being cheap for a takeover. What are your parameters for cheap in terms of sales, which is the benchmark for purchasing disk drive makers? It's nice to talk about the handful of stellar products that IOM is bringing to market, but companies like IBM throw that many in the trash every day. How is a cash flow negative company going to market these supposedly stellar products? How is the stock price going to accelerate to ten so that funds start nibbling at IOM again. How do you account for intra day dumping of the stock. Looks like FMR to me. And believe me they don't take prisoners. It's strictly slash and burn. What's my entry point on this stock, which has not returned a single dime to investors over the past two years, and which clearly saw market manipulation in 1996.
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