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Technology Stocks : SAP A.G. -- Ignore unavailable to you. Want to Upgrade?

To: Birdman who wrote (869)	5/7/1998 5:54:00 PM
From: Eric Dickson	Read Replies (1) \| Respond to of 3424

According to the person I spoke with at Schwab's Global Investing Service, they expect the SAP ADR to trade at the same price when listed on the NYSE, without any exchange of shares. She indicated that SAP closed today at $170 and that, had I placed a trade, the spread would have been $4. Pretty expensive deal!! She also quoted the trailing PE at 102 and the forward PE at 76. Pretty pricey. I'm looking for an entry and I assume the the stock trades in synch with the original. Is this the case? Do I watch the price on the German exchange in the morning to tell how the ADR will trade here? Thanks for any advice.