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Technology Stocks : All About Sun Microsystems -- Ignore unavailable to you. Want to Upgrade?

To: craig crawford who wrote (40582)	1/19/2001 12:17:51 AM
From: Steve Lee	Read Replies (1) \| Respond to of 64865

I never said they missed relative to expectations. Just corrected your ridiculous assertion that the growth rate is 30 - 35% If you think earnings numbers don't matter then go ahead and invest blindly. I am not a bear on SUNW. In fact I said on the way down that SUNW would not go below $23 and that I thought the most likely bottom was $25. As it happens, I was right to more than a thousand decimal places. You really want to argue numbers with me? As it happens I think Sun is a good company and will do well, as will its stock over the long term. I have stated that opinion here several times. I do however think that a company growing at 20% (or even 30% if u prefer to take a blinkered approach) does not deserve a PE of 70. I said this stock was overvalued when it was nearly double todays price, and still maintain that view. However, there are enough foolish investors with rose coloured spectacles in this stock so I think earnings will now catch up with the price while the stock bases, rather than the stock falling further to match earnings.