On July 23, Dell Computer's stock hit 167 1/4, a 52-week high and a 211% jump so far this year. Dell, which closed at 164 that day, now sells at a stratospheric p-e: 48 times last year's earnings, about double that of Sun Microsystems, Compaq Computer, and Gateway 2000. One reason: PC success is fund- ing moves into high-margin areas such as engineering workstations, to be announced on July 28. Earnings for the second quarter are expected to rise 85%, to $196 million, with a jump of 67%, to $900 million, for the fiscal year, says First Call.
EDITED BY KELLEY HOLLAND
Updated July 25, 1997 by bwwebmaster
Copyright 1997, Bloomberg L.P.