HWP -- Hewlett Packard Message Board

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Technology Stocks : HWP -- Hewlett Packard

HPQ 20.60

-0.8%

Jan 15 3:59 PM EST

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To: Uncle Frank who wrote (2524)	8/5/1998 7:14:00 AM
From: papa bear	Read Replies (1) of 4722

Frank, Based on an fairly realistic (IMHO) estimate of $2.85 or so for FY98 end-of-year earnings times a very gracious PE of 15 NOT the grossly inflated 20+ we've been seeing, this yields a present fair market value of 42-3/4. So, IMHO, 45 is then not unrealistic and even below the 52 - 55 range I've been expecting for a long time. Looking ahead to next year, if the mkt perceives some growth in HP and even begins to grant us the high 20-type PE's again, then we may see 60 - 65 by this calendar year's end. All of this is strictly my opinion. Kirk, if you're "listening": TA is intended for exactly what you say: identifying entry and exit points. Over the last year, HP has been excellent in following most of the classic TA indicators - an outstanding trading stock, especially in Taxcap w/no commissions. BTW, I welcome all constructive rebuttals - can make for an interesting discussion. RM

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