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Technology Stocks : SYNTEL (SYNT) - Upcoming Year 2000 IPO
SYNT 40.990.0%Oct 10 5:00 PM EST
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To: kaydee who wrote (2094)10/30/1998 5:35:00 AM
From: JDN  Read Replies (1) of 2761
 
Dear DBK: Agree with you on the Y2K comment. I bet that in reality they will take ANY profitable contract that comes along, especially if it is with a major company which allows them a FOOT IN THE DOOR or a major customer whom they must service or someone ELSE gets a FOOT IN THE DOOR. I suspect that their commentary merely is to highlite the fact that they are NOT a Y2K company, as I have heard rumours that the funds no longer will invest in what they perceive to be a Y2K company unless it has a CLEAR, PROVEN exit stratagy. At least SYNT has and always has had such. What really irritates me is this latest news IS NOT NEWS. SYNT has said, FROM THE BEGINNING, that the MOST they would allow the y2k work to get to was 20% and that would likely happen in calendar 1999. They are running at 18+% right now in 1998. So everything seems on target. Yet analyst goes berserk and company stock price plummets.
I WOULD like to know MORE as to why revenues relatively FLAT sequentially this quarter, but I would point out that supposedly they are DOUBLING their sales staff. That OUGHT to result in substantial sales increase going forward and at least it indicates that is their DESIRE.
Well, after now getting over the SHOCK of the drop in price I am now LOOKING FORWARD to even more drop. Why, because I intend to buy more of this stock at the lowest price possible. I think the analyst has seriously misrepresented the facts and I hope to take advantage of that--just as I suspect he will also. JDN
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