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Technology Stocks : Phoenix Technologies (PTEC)
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To: Mark Brophy who wrote (2925)11/23/1998 11:25:00 PM
From: John B. Dillon  Read Replies (2) of 3624
 
Mark,

Again some great points, especially your position on shareholder equity and the IP group. I'm learning a lot from this thread and I now understand why the analyst do not follow this company. It is a lot easier to BS people into believing that companies without earnings are the next Microsoft or Dell.

I was originally attracted to PTEC because of their market share and I expected they would leverage sales with their Intel relationship and added value products like RomPilot. RomPilot in particular interested me because I believe the very low cost approach to this problem has enormous potential and will help PTEC lock in their customers. Someone in a post a number of weeks ago pointed out that once one major OEM has it the others will follow. I like this strategy and all of these issues makes the cost of entry higher.

I thought the IP group had tons of potential, but felt that it would become a commodity extremely fast. I felt that the PICO group was somewhat in the middle. I expect the cost of entry to these groups is relatively small.

I will keep my shares because I believe BIOS prices should stabilize and with ROMPilot and IBM coming on line, a promise of decreased R&D costs and Jack and Bob with a nice chunk of stock at 9 they will make or beat the numbers and the stock will start to edge up. After the wait limit PTEC will have to buy back shares to move the stock price, because if they do not the good employees will leave. Once the buy back takes place our friends like FF will jump on board and then the momentum players will swing the stock a little higher. The only other sign I would like to see is additional insiders buying.

Sounds great, but boy is it painful to see companies with a very low cost of entry and no profits go to the stratosphere while we sit dead in the water.

jd
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