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Technology Stocks : Dell Technologies Inc. -- Ignore unavailable to you. Want to Upgrade?

To: John Koligman who wrote (65463)	9/14/1998 2:19:00 PM
From: Scott Kleinhans	Read Replies (1) \| Respond to of 176387

I'm not complaining about the 3+% rise so far today but it just can't seem to get over the hump at $60. Hot tech stocks Montgomery analyst Kurt King said his favorite pick today is conference invitee Dell Computer (DELL). Despite the recent drop in the share price from its August highs, he says the company does not appear to have lost any growth momentum. Second-quarter sales for the PC maker remain impressive, he says, with its sales to businesses up 141% over the same quarter a year ago, international sales up 74% and Asia-Pacific sales up 35%. Direct sales over the Internet have spiked to $6 million per day -- a $2.2 billion annual run-rate. King calls this performance "remarkably strong" and believes the company will generate 50% of its total sales via the Internet by the end of the decade. "This would almost certainly expand Dell's current cost advantage over the rest of the industry," King says. Having just raised his target price and earnings-per-share forecast, he believes his estimates will again "prove conservative." Dell's average selling price for the first quarter was down 9% from the same quarter a year earlier, and down 11% in the second quarter to about $2,400 per box. But King said he is "not concerned" given the company's stronger-than-forecast sales and margins. investor.msn.com