IBM Message Board - Msg: 4243174

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Technology Stocks : IBM

IBM 307.94

0.0%

Dec 5 9:30 AM EST

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To: J R KARY who wrote (2991)	4/28/1998 5:47:00 PM
From: Don Hurst	Read Replies (1) of 8218

Gary Helmig of Soundview Financial was on CNBC this pm and what I heard him say was positive for Big Blue. He certainly did not say that IBM's overall growth at 2% last qtr was exciting but he liked the services growth at 22%, the disk business growth and our microelectronics business. He spoke positively of the mainframe software annuity and he said that IBM's PC business out of the channel was growing but there was an inventory problem now resolved? going into the channel. Not sure I understood that one. He liked IBM's use of funds to buyback stock although he did not understand why the mkt would get excited about it. He said that in his discussions with IBM he understood that IBM was not going to use funds to buy companies at two and three times their values. This was in context with his comments about IBM stock buybacks. He is maintaining his shortterm buy and longterm buy ratings on IBM. It was also interesting to me that during his comments on stock buybacks not once did he mention "earnings distortions". BTW he is a grey beard too. Regards, Don

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