3Com Corporation (COMS) Message Board

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Technology Stocks : 3Com Corporation (COMS)

COMS 0.00130

0.0%

Nov 7 11:47 AM EST

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To: Mang Cheng who wrote (15031)	3/30/1998 1:06:00 PM
From: Michael Ohlendorf	Read Replies (4) of 45548

I can still not believe that 3Com is hanging at 35 1/2 here. The only thing that is keeping it up is this crazy overvalued market where any bad news is followed by upgrades. Any fair valuation for the stock would be below 30 ! No way that 3Com can recover in the near term with all these problems in the PC sector and Asia becoming slowly an earnings cutting reality. They would have to sell gazilions of Palm Pilots. Impossible ! 3Com for me is a waiting game. But who wants to wait for another year having watched the stock price declining for various quarters in a row already. People they almost lost money in the last quarter ! I have the impression that everybody here wants to ignore this fact ! There is at least a 50 percent change that they are going to lose money for real in the next quarter. In the old days stock prices were driven by earnings growth today they are driven by just promises. Certainly, future expectations are important but you have to deliver some day, i.e. show the growth to justify the high valuation. This stock has nothing but disappointed for continuous quarters and still trades at the same old multiples !?

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