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

To: jack wuo who wrote (2856)	4/20/1998 7:57:00 PM
From: jtechkid	Read Replies (1) \| Respond to of 8218

numbers were awful anyway you sliced it-take it effect the only growth was service and that their lowest margin business-also tax rate was lower 32-verse 35-wow they beat the street what did people think they would do they already pre announced last quarter. most other factors outside service had revenue declines. i;m glad i sold my position today don;'tcare if its up 5 eventually reality will catch up to everybody.

To: jack wuo who wrote (2856)	4/21/1998 8:52:00 AM
From: The Vinman	Read Replies (2) \| Respond to of 8218

<<IBM undervalued>> IBM is actually overvalued. The company sells at 16 times earnings, yet earnings DECREASED by 17%, how do you get undervalued? Should every stock in the S&P have a PE of 23 just because the rest of the market does? What if the company has slowing or lessening earnings like IBM? IBM played the street well, its the best trick going, warn well ahead of time, when earnings come you then can easily beat the number and your stock will go up. IBM beat a lowered number with less shares outstanding and a lower tax rate, take those away and they miss big time. Combine that with the original estimate and this quarter was a disaster. On top of all that, they said little that was positive about the future. Pricing pressure to continue in PC market, service growth to slow, and Asia will continue to hurt business. IBM is part of the market hysteria, in any other past environment, they would get killed, but the casinos on Wall Street are running at full strength...... Vinman