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Technology Stocks : PCCG - Profitable, small float and goes Internet with IM.
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To: WISDOM MILES who wrote (20)3/8/1999 11:05:00 AM
From: Arrow Hd.   of 125
 
There is no question that more and more of the PC business will be
conducted over the Internet. Dell announced last week that they will
be moving more to this model and announced a deal with Ingram Micro
similar to what PCCG did earlier this year. The model I am referring
to is not just PCs but parts, sub-assemblies, microprocessor
components and so on. Even though it would appear that Dell would be
a bigger competitor to PCCG in fact it validates the model and drives
more transactions to the Internet solution where it is only natural to
comparison shop and we have seen PCCG's ability to be low cost
wholesaler and E@Commerce retailer so I would expect them to thrive in
this space. I also did some research into other PCCG competitors and
virtually every one has had a big move at some point during the past
year. From a consolidation standpoint, profitable companies with a
going business and viable Internet presence are going to be attractive
targets. At current prices, you can buy PCCG outright for 18 million
dollars and get a profitable company with 1999 earnings and revenues
that will exceed 100 million dollars in an expanding industry where
increased volumes alone allow growth without even worrying about
taking share. An acquisition of PCCG would be immediately accretive
and additive to the business model of many different kinds of
technology and/or E@Commerce businesses. So it is just a matter of
time and having the patience to wait out the various catalyst options
that exist here.
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