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Technology Stocks : PSFT - Fiscal 1998 - Discussion for the next year -- Ignore unavailable to you. Want to Upgrade?

To: Trader Dave who wrote (3548)	11/17/1998 12:41:00 AM
From: treetopflier	Respond to of 4509

Gee, if only egghead.com had been able to force you to buy EGGS to get EBAY... Get the picture. Now many other 'Internet' startups had $300M in capitalization out of the gate, plenty of technical talent and a cash cow to help with acquisitions? Oh, and BTW an application suite that can be delivered to end users via the Web today. Look out Ceridian. Too bad the 'Internet' companies aren't hot right now. Couldn't they pick better timing? <gg> ttf

To: Trader Dave who wrote (3548)	11/17/1998 7:01:00 AM
From: Elmer	Respond to of 4509

Hi Dave, Agouron Pharmaceuticals announced a tracking stock last August. It's not trading yet, however. It's just a cute way to keep the investment bankers busy and look shareholder friendly. I think that it's a non-event unless the stock is so oversold that it becomes a reason to jump. We will see. You said that "the stock is going to languish at best." Perhaps. But at $20 you are paying about 24 to 28 times next year's earnings, assuming no revisions of course. If you believe that ERP still has a long term growth rate of 35% and that there is nothing wrong with PSFT's products, then it's a matter of waiting until the Street rotates back to the stock. So "dead money" is the risk, but I feel much greater comfort owning this at depressed levels than chasing Yahoo or Excite. Regards David