SAP A.G. Message Board - Msg: 5378968

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Technology Stocks : SAP A.G.

SAP 237.87

-0.2%

Nov 25 3:59 PM EST

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To: JRH who wrote (1898)	7/31/1998 5:23:00 PM
From: DAVID BROWN	Read Replies (2) of 3424

Here's a little fuel for the fire... I'm still long. SAP May Get Cautious Response From U.S. Investors, WSJ Reports New York, July 31 (Bloomberg) -- SAP AG's American depositary receipts, to be listed on the New York Stock Exchange starting Monday, may not be as popular with U.S. investors as the software company's shares are with European investors, the Wall Street Journal reported in its ''Heard on the Street'' column. Germany's largest software company's shift to U.S. from German accounting standards next year may reduce its sales by between 5 percent and 6 percent, and its second-quarter earnings included negatives such as lower earnings from Asia and rapidly rising costs. SAP's stock trades at about 89 times estimated 1998 earnings, well above the enterprise software industry average of 61 times, and has already gained 69 percent from its low earlier this year, the paper said, citing IBES International Inc..

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