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Non-Tech : BBY -Best Buy

BBY 80.97

+1.7%

Nov 26 3:59 PM EST

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To: Jeter C. Hall who wrote (731)	3/4/1999 1:45:00 PM
From: Greg Thornton	Read Replies (2) of 980

Jeter, From the press release: ...sales for the fourth quarter were $3.456 billion, a 21% increase compared to the $2.852 billion achieved for the comparable period last year. Fiscal 1999 sales were $10.076 billion, also a 21% increase, compared to $8.358 billion last year... The question is, how do you justify a P/E of over 50 when: 1) Sales growth (and presumably revenue growth) is 21%. 2) Analysts expectations for long term annual growth is 25%. It is two weeks to the split, and over three weeks to earnings, which will probably meet expectations at best. Given all of this, do you think there is more potential for a significant move upward from here or downward? Greg

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