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Technology Stocks : 3DFX -- Ignore unavailable to you. Want to Upgrade?

To: Sun Tzu who wrote (7822)	10/1/1998 4:15:00 PM
From: Marc	Respond to of 16960

For those who we looking for the target price. 3Dfx Interactive Inc. Rated New 'Buy' at Wedbush Morgan Bloomberg News September 30, 1998, 3:44 a.m. PT Princeton, New Jersey, Sept. 30 (Bloomberg Data) -- 3Dfx Interactive Inc.(TDFX US) was rated new ''buy'' by analyst Michael W. Kim at Wedbush Morgan Securities. The 15-month target price is $23.00 per share.

To: Sun Tzu who wrote (7822)	10/1/1998 4:43:00 PM
From: Sun Tzu	Read Replies (1) \| Respond to of 16960

I just posted this on the yahoo board. May be I should post it on the AoI thread since I talk about market dynamics here (though nothing earth shattering), but somehow I think it is more appropriate here. ST ================================================== <<1) The company received proceeds greater than the current market value of the stock. Since the objective of any company is to increase shareholder value, it hasn't yet achieved that objective.>> This I do not agree with. Your decision to buy, hold, or sell, should be independent of how much you paid for the stock. The past matters only in as much as it can bear on the future. For a today's investor, the company is a real bargain exactly for the above reason. As someone who recently bought equity in the company (and please do not take this the wrong way) I am delighted that I am buying a company at 11 who managed to sell shares to the public at 23. That in itself is creating value for me (all other things being equal). In short, I believe that the company is creating excellent shareholder value for all its recent shareholders. BTW I don't think there are many 25+ shareholders left. <<2) Investors with a basis of $20+ a share have a markedly different mindset than those with a $10-$15 basis. The fact that there are investors in the stock at such high prices creates a dynamic that can't be ignored.>> Here we are in perfect agreement. My take is that this mindset can only work in the favor of the stock performance. Let's face it, anyone who held the stock from 20+ all the way down to 8, is not going to sell it at 11 just because if pulled back from 13. Look at the volume on days like this; very few sellers. That means that anyone who wanted to sell has already sold. Some day the shorts will understand how the longs felt on the way down. BTW ask Pat, I told him long time ago that so long as the then current shareholders were in the stock, TDFX had no upside potential and that we need a bad news to get them out and get the stock going up. I am not surprised one bit that we are doing better now after the bad news than we were before it. Cheers, Sun Tzu

To: Sun Tzu who wrote (7822)	10/2/1998 11:06:00 AM
From: ckrunner2001	Read Replies (1) \| Respond to of 16960

Re: KEA sounding like TDFX While the quote invoked similar sentiments, KEA has been buying up small integration services companies whose typical valuation runs between 1 and 1.2 times revenue with a stock valued at the high 6+ revenue. So Keane obtains talent, repackages it and continues to do what the purchased company was doing. But, now the 1.2x valuation turns into Keane 6+ (today's market 3) - but still pretty good. I know the KEA following - I'm married to one. I like TDFX better. If the carnage keeps up, I think KEA will continue down.