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Technology Stocks : Gateway (GTW)

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To: Skeeter Bug who wrote (6425)	8/9/1998 9:02:00 AM
From: Kory	Read Replies (1) of 8002

Skeeter, We can split hairs all day long about marginal amounts in the quarterly EPS. I understand that Gateway reported more interest income, but they also reported increases in sales and gross margins. Offsetting this, they reported significantly higher selling expense and also 1.5% higher income taxes. You pick out interest income and say this is not part of the "core business". I could do the same for the increase in income taxes. Also could make an argument that some of the selling expense is "one time" startup costs for the new programs. Or that numerous of the G&A cost increases don't relate to selling PC's and should be excluded. Fact is that we see what we want to see. You argument about VALUE is just as absurd as the markets. So how would you value Micron? Obviously you feel $7 billion is much too high, but what price tag would you put on it? (For the record, I have never owned Micron). As for your numerous stocks which will be ten-baggers, history tells us that it is absurd to think that many companies will experience that type of price appreciation in 5 years. Kory

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