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Technology Stocks : How high will Microsoft fly?
MSFT 492.34-3.0%12:56 PM EST
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To: johnd who wrote (20748)4/19/1999 8:08:00 PM
From: t2  Read Replies (2) of 74651
 
Johnd, I don't know if this stock will drop to 65 or 50 PE. I just find that unbeleivable. It might stay near PE=65 if things remain the way they are currently in the sector and people want to pull out before the resumption of the trial. Considering the current price, i don't believe we will have too many bailing out at a price
of under 80. (after tomorrow--EPS of 1.30 means PE of 61 if the stock is at 80).

IMHO, that would be a bargain basement price no matter how bad things get short term. That is why I bought leaps 2001 at the end of the day. I find it hard to believe PE less than 60 would stand up for a stock like this. Office2k and Windows2k are going to be huge. Not only do they have earnings visibility but they have a ton of cash. Now with the net stocks dropping, maybe we will see some acquitions to position themselves better in the "web". Net stocks crashing would mean Microsoft's dream come true to buy some key strategic internet stocks that would be a good fit with MSN. I think MSFT should even buy a stock like Network Associates for the anti-virus software.
Cheaper stocks make the enormous cash becomes easier to spend.

Conclusion: I think things look great for Microsoft. I am just a little worried for a short term correction happening in the last few months before the millenium. Once we hit 2000, lookout!! We will see one hell of an rally. Yea I know I am going too far out but that is becoming my strategy-----long term.
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