To: Bill Harmond who wrote (859 ) 6/21/2000 2:51:00 AM From: Libbyt Respond to of 57684
PHCM... Just FYI...this is from todays Bull Market Wireless Investor. I thought you might be interested in their thoughts! THE BULL MARKET WIRELESS INVESTOR, Wednesday, June 21, 2000bull-market.com PHONE.COM (PHCM, $75, down 5) was a little beaten up by the close on Tuesday, and the general consensus is that it's a buying opportunity. Several analysts say they see significant upside potential for Phone.com, saying the company has emerged as a key Wireless Internet infrastructure, and they are placing a price target in the $120-130 range. The company's stock has fallen sharply since March's technology stock sell off, a decline mainly because of overall market conditions. The "dot com" at the end also may have confused some investors, and caused them to group Phone.com with companies that don't have the solid base they have. Phone.com's underlying fundamentals remain solid. Their customers now include about 60 of the world's largest wireless telephone service providers, and firms that serve almost half the world's 200 million wireless voice subscribers have already purchased Phone.com's technology. Although there is competition, it would be extremely expensive for Phone.com's current customers to switch, and with their recent investments in voice-activated technology, they should be able to hold on to their early lead. Phone.com's stock trades at about 30 times its anticipated 2001 sales, a valuation roughly half the average valuation of other leading Internet and wireless infrastructure stocks, but still high. It appears to us that the recent sideways trading has created a good buying opportunity for investors who haven't had the chance to get in on this one yet.