3COM'S LAN MINE
Network-equipment maker 3Com had already taken some lumps since hitting a 52-week peak of 81 3/8 last Dec. 10. But when it warned on Feb. 10 that it would not meet Wall Street expectations this quarter, jittery investors bolted and drove its share price down 26.6% in a day, to 37 1/4. 3Com blamed the shortfall on soft December demand and a price war with Intel in high-speed PC network cards. Analysts lowered their 1997 earnings estimates, but most remain bullish on the networking sector, where they predict growth of 30% to 50% annually for the next two or three years.
Updated June 15, 1997 by bwwebmaster
Copyright 1997, Bloomberg L.P.