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

To: Steven N who wrote (52911)	3/12/1999 2:15:00 AM
From: rupert1	Respond to of 97611

SteveN: I'm not sure what your remarks mean. The charge against CPQ is that it used factoring heavily in the 4th quarter 1997 when it stuffed channels. Critics of CPQ revive that charge on a fairly constant basis even though the company, most analysts and anecdotal evidence from insiders and the industry say there was no channel stuffing in the last quarter. The larger than usual receivables in the 4th quarter results has been explained by rudeog and she_ex, as an accounting bulge arising from the DEC acquistion. But critics like to point to that to support their thesis of continued channel stuffing. A contrary suggestion, is that a few days revenues actually realised in the 4th quarter have been held back from the books so they can be added to this quarter. That's a little like MSFT has said it will do with $400 million as between this quarter and next.