PSFT - Fiscal 1998 - Discussion for the next year Message Board

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Technology Stocks : PSFT - Fiscal 1998 - Discussion for the next year

PSFT 0.0001000

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Oct 29 5:00 PM EST

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To: Lizzie Tudor who wrote (2401)	10/2/1998 3:08:00 PM
From: Tom Smith	Read Replies (2) of 4509

Michelle, Because I thought it might come in handy someday (and it now has), I actually taped the CC last month. I will listen to the CC again this weekend and post here whatever relevant points were made regarding the Morgan Stanley analyst's concern, which is that SAP is cutting prices in HR and public sector accounts in an attempt to take market share from PSFT. The CC operator asked each caller to identify their company name and I seem to remember an analyst from MS asking a question. I also remember someone asking specifically about price competition from SAP. (I can't remember off the top of my head whether this was the MS analyst or not.) I also recall that the answer to the question was that the price competition is mild and that it has not materially affected PSFT's win rate or market share. I will post more details after re-listening to the tape. Tom P.S. The MS analyst reduced his 1998 estimate from 0.64 to 0.63 and his 1999 estimate from 0.93 to 0.89. Doesn't sound like something that deserves a 30% cut in the stock price!

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