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

To: Howard Feinstein who wrote (55412)	4/2/1999 4:02:00 AM
From: rupert1	Respond to of 97611

Howie: I have to disagree. CPQ did not move higher "on air" in January. It achieved a growth in revenues in excess of 40%: it made 43 cents in the 4Q and provided a realistic basis to expect earnings of between $1.60 and $2.25 in 1999. By some accounts, it pushed forward some undeclared earnings from 4Q to 1Q It achieved its goal of making the DEC acquisition accretive before the end of the 4Q and announced its intention of spinnning-off Alta Vista before the end of 1999. There was no PR campaign to boost the share price. In fact, this thread was full of complaints that CPQ did not engage in boosterism. The only irrationality I can see is twofold: (1) The uncritical adoption by analysts of a report put out by Credit Suisse First Boston that CPQ was experiencing abnormal seasonal slowdown (and I note that barely 2/3 weeks later, analysts are already starting to prepare the ground for a reversal of their panic downgrading of estimates) (2) the rejection by some investors (including some on this thread) of the fundamentals in favour of the le panic du jour