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

To: High-Tech East who wrote (42714)	4/4/2001 5:12:48 PM
From: cfimx	Read Replies (2) \| Respond to of 64865

typical gibbersih. so brash in your original post. posting prices, saying you are buying. bahhhhhh. bahhhhh. PS: psssst. abmd. pass it on....

To: High-Tech East who wrote (42714)	4/4/2001 5:33:02 PM
From: A.L. Reagan	Read Replies (1) \| Respond to of 64865

My goodness, Ken, you anticipated twister's immediate response! I understand where you are coming from, makes sense to me. The chiding was for the somewhat bombastic tone of your original post, which clearly wasn't exactly what you meant to say. No argument here on the wisdom in waiting for an uptrend to begin.

To: High-Tech East who wrote (42714)	4/4/2001 7:31:14 PM
From: E_K_S	Read Replies (1) \| Respond to of 64865

Hi High-Tech East: Have you added any other companies to your list? I have been screening stocks that have (1) plenty of cash to stay the course as measured by $cash/share, (2) real "assets" as measured by (a) $ book value/share, (b) intangible assets w/ value like patents (c) undervalued assets carried at cost but have increased in value like real estate, (3) continued significant growth in R&D investments as measured as % of sales and (4) zero or no long term debt. Many of the semiconductor companies have made my list with my favorites being AMAT and NVLS. SUNW comes up on my screen as they continue to spend large dollars in R&D and have significant "silicon valley" real estate booked at cost which has more than doubled in value over the last five years. Cash on hand only represent about $0.66/share and book value (not adjusting for patents or undervalued real estate) is about $3.30/share (4.24x BV). IMO from strictly a value screen, SUNW could trade below $10/share but I really do not think it will sell that low. (note: I actually bought more this month at $17/share) The significant R&D investments SUNW has made in the past three years should generate many new revenue streams which when valued based on the discounted cash flow probably adds several more dollars to my adjusted "fair value" approach. Remember, a value investor does not really look at any significant organic growth but rather what the combined value of the total basket of assets our company owns. I do have to admit, that I was surprised to see a lot of the semiconductor companies (companies w/ foundries like LSI, Charter Semi CHRT,equipment manufactures:like Novellus (NVLS), and AMAT ; all made my list). It appears the market is discounting future quarterly losses for these companies. As of yet, it does not appear that the market is discounting any future quarterly losses for SUNW but one or two quarters of significant slow down. I would be happy to see SUNW meet last years revenue numbers for the next two quarters. I doubt we will see anything over twenty percent growth for the year but rather something in the high teens. Two years out, SUNW's R&D investments should help the company see double digit growth in the high 20% or low 30% range. Therefore, IMO $14.00/share for SUNW begins to look attractive from a straight "value" investment. EKS