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Technology Stocks : IBM -- Ignore unavailable to you. Want to Upgrade?

To: art slott who wrote (1921)	11/28/1997 7:03:00 PM
From: Greg Jung	Read Replies (1) \| Respond to of 8218

<< sales were up 8% last qtr if we account for currency changes.>> What's 8%? 9-month sales? 12-month sales? a) seaonal/quarter-quarter variations are meaningless. Fortunately for IBM you have a fairly continuous track history to tell you where the financial policies are guiding it. Since they hedge in general to decrease the currency effects, losing one quarter will be balanced in another. Previous 4 months 18.6,18.9,17.3,23.1 and 4 before that are 18.1,18.2,16.6,21.9 The previous 4 include harder times, I believe. Total sales for previous year sum to 4% over the year preceding that. Since the cost of equivalent capability decreases that indicates they are either selling more units or increasing content to keep up ASP. Greg