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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Bill F. who wrote (48192)	2/21/1999 6:00:00 PM
From: accountclosed	Read Replies (1) \| Respond to of 132070

Can you elaborate on "That is about to change"? What do you see that is emerging that will bring about the end to denial? Just more hard cold facts that will kill the pc love in?

To: Bill F. who wrote (48192)	2/21/1999 6:25:00 PM
From: Jack T. Pearson	Respond to of 132070

The problem on the Dell thread is that many of the people are lucky investors, not brilliant investors. They tend to get the two concepts confused. I owned DELL until December. I moved into the internets (out in Jan) because I saw DELL coming in closer and closer to estimates and the P/E of over 100 seemed a mite high for a maturing business. But for the past 4 years, bears like LT have been crawling all over the DELL thread screaming that the sky is falling every time the stock dropped 10 points or more. I think most of the Dellheads have been immunized to negative news. In fact, the drop DELL just took from its high is typical of the drops it has been taking after earnings for the last 6 months, so this looks like more of the same. I think Michael Dell telegraphed the real problem when he stated in an interview in January something to the effect that meeting expectations might be more difficult in the future. The Dell Conference Call after earnings had more warnings about the future for anyone who was listening. Dell is still, IMO, the best of the PC companies. But I think the declining growth rate will not support a P/E of 100 or even 80.