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To: PAL who wrote (53728)	7/23/1998 11:28:00 PM
From: Lee Lichterman III	Read Replies (1) \| Respond to of 176387

When it rains, it pours. First GTW now this. Any inputs on tomorrow now? Starting to wonder if those extra calls I got at the close were such a great buy after all. exchange2000.com Msft sees slower PC sales: Microsoft Sees Revenue Growth Slowing on PC Sales Seattle, July 23 (Bloomberg) -- Microsoft Corp., the top software maker, said revenue growth will slow in the fiscal year that began on July 1, dragged down by weaker personal computer sales and market saturation for some of its products. Revenue also will come under pressure from the turmoil in Asia, Chief Financial Officer Greg Maffei said at a meeting with financial analysts. The so-called year 2000 glitch, in which computers fail to recognize the year 2000, will put a damper on software sales, too, he said. Uncertainty over whether software programs can cope with the change in millennium will cause some companies to delay orders, he said. Microsoft also expects that saturation sales of some of its products, such as the Office 97 package of business software, will contribute to slower revenue growth. It does expect to sell more upgrades for these products, which bring in less revenue than new programs. Microsoft, which traditionally uses its meetings with financial analysts to lower expectations for its performance, warned that the new fiscal year will see heavy investments in the company's Internet ventures. In addition, its costs of goods sold will rise this year, after falling in recent years, he said. ''Growth of this company will not be as high in the future as it has in the past,'' Chairman and Chief Executive Bill Gates told analysts. ''The number of PCs are a big part of our model and that rate is slowing; that slows us down.'' Still, Microsoft is ''in the best position of any technology company,'' Gates said. The Redmond, Washington-based company gets the same amount of revenue for its software installed in new PCs regardless of the drop in PC selling prices, said Microsoft President Steve Ballmer. He declined to say how much Microsoft gets from each PC sold. Gates' comments were echoed by the characteristically cautious Maffei. ''Growth is coming down and down substantially from where we were in fiscal 1998,'' Maffei told analysts

To: PAL who wrote (53728)	7/23/1998 11:48:00 PM
From: VICTORIA GATE, MD	Read Replies (3) \| Respond to of 176387

PAL RE<MICHAEL. JUST DO IT. ANNOUNCE THAT 2:1 SPLIT NOW. > If anybody ready want to know I will try to guess . VG

To: PAL who wrote (53728)	7/24/1998 7:23:00 AM
From: Huib	Read Replies (5) \| Respond to of 176387

A 3:1 split has been approved.

To: PAL who wrote (53728)	7/24/1998 5:22:00 PM
From: Craig Lieberman	Read Replies (1) \| Respond to of 176387

PAL, RE: MICHAEL, THE TIME IS NOW!! NOW NOW MICHAEL. I disagree. the trend is down. Michael can use the split only once. I think that the trend will turn around leading into earnings announcement over the next week. we may see a low down in the 96 range. But then it will bounce. The split is a booster rocket (even though it has no material effect on the company financially and is more psychological for the market and shareholders). If Michael fires his boosters while the stock is heading down, he wastes energy slowing the decent before it adds into the ascent. I would prefer that stage 1 is fired first (rampant speculation based on earnings expectations) and then stage 2 (excellent earnings) and then reserve the split for stage three about 3 weeks after earnings. (Result - boost that puppy into outer space). Just MHO Craig