Phoenix Technologies (PTEC) Message Board

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Technology Stocks : Phoenix Technologies (PTEC)

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To: Mark Brophy who wrote (442)	2/3/1997 2:08:00 PM
From: Tim Oliver	of 3624

Mark B., is this a trick question? Both MDCD and MACR have had flat revenues over the past 4-5 quarters. Whenever I see a trend of flat revenues I get concerned about either industry growth or competition. In MDCD's case, I'd worry too much about Microsoft and Novell if not their direct competitors, since they have such a horizontal application sitting right on top of Microsoft and Novell's system software. I don't know what's causing MACR's "pain" but they were a darling on Wall Street that fell out of the sky and that'll be hard to recover if it's fundamental. Both MDCD and MACR are both well covered and have large institutional coverage. MDCD has 62% stock held by institutions and MACR has 86% (according to stocksmart). I believe MACR was in almost every tech. portfolio a year or so ago. Apparently MDCD even had Dan Dorfman covering it and it has at least 4 major brokers covering it. In contrast, PTEC's institutional coverage is only about 14% other than the top two institutions, so there's an obvious difference in coverage. PTEC's revenues are also trending up and their competitive position is only getting stronger in a business where barriers to entry are becoming increasingly greater. Any others?

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