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To: Marc Newman who wrote (25500)	7/15/1999 10:18:00 AM
From: Joe Donato	Respond to of 213186

$3.2 Billion in the bank!

To: Marc Newman who wrote (25500)	7/15/1999 10:23:00 AM
From: Richard Habib	Respond to of 213186

Marc, keep in mind that they effectively lowered guidance for next qtr. Forecast is for basically 0 growth next qtr. Tough to hold even a PE of 20 with that outlook. While they did give a bullish forecast for Dec that's 2 qtrs off. Additionally, despite what they said last qtr unit growth is not translating to revenue growth. Last, they are facing that 25% tax rate ramping after Dec. With rev growth as forecast this may represent a real problem for continued yr over yr growth. I'm out until I can see things a little more clear. But it was a great ride, basically a 3 bagger from Spring. Still have to use my profits to buy that Mac sometime this fall. Rich