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Technology Stocks : PSFT - Fiscal 1998 - Discussion for the next year
PSFT 0.00010000.0%Oct 29 5:00 PM EST
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To: gc who wrote (1927)8/26/1998 8:46:00 PM
From: Melissa McAuliffe  Read Replies (1) of 4509
 
gc, I have to disagree with your statement about the stock being poised for a big drop in April. The stock went from 34 to 57 in a period of 3 months. Then when Q1 earnings were announced they weren't as much as maybe some had hoped but they were certainly respectable by any standards. The stock settled into a trading range and then moved back up to 52 in July.

I'll agree with you that the chart in April didn't look great but it didn't look like the stock was going to 35. In fact from April to July it had good support in the low 40's.

There were more than a few things that happened in July that no one could have possibly predicted. SAP announced lower growth rates, PSFT announced 60% (though quite honestly I think they had said this much earlier in the year also though no one heard them obviously), itwo issued warnings about Q3, vntv had a terrible quarter, the world economic situation started turning into a global monetary crisis, etc,etc.

So unless you have a crystal ball or are Jeanne Dixon in disguise there is no way in April you could have known that psft would go to 35. Because, IMO, it wouldn't have happened had not all these other things occurred causing the entire erp sector to fall out of favor in what is an ugly market anyway.
Melissa



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