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

To: Arrow Hd. who wrote (4418)	1/18/1999 8:34:00 PM
From: Jules B. Garfunkel	Read Replies (2) \| Respond to of 8218

Hi Arrow, You must be forecasting quite an increase in IBM's MIPs shipped in 4Q98 (g). How many shares are you estimating that IBM bought back in Q4, in order to come up with your $2.47 estimate? Are you taking into consideration the fact that growth from Services Division and IBM now selling Intel PCs, Servers and Workstations, will all help to reduce IBM's gross profit margins. I can't see IBM selling for twice what it was selling for a year ago based on 5% lower earnings and lower margins. Regards, Jules