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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Mike M2 who wrote (65675)	8/2/1999 3:21:00 PM
From: Don Lloyd	Respond to of 132070

Mike - (...Dell Computer (DELL), the famous Austin-based mail-order assembler of plastic boxes with chips inside, commands a market capitalization of $110 billion and a PE of 95x (see Figure L). Surely a reasonable valuation considering DELL is in a business with no barriers to entry, rapidly falling margins due to the deflation that is engulfing the world, and controls only 9% of a $120 billion market. Is this speculation on the level of the internet silliness? Probably not, but it is close...) This is obviously biased. There is no recognition at all that boxes of both aluminum and cardboard are also involved, in addition to plastic. -g- Regards, Don