The Net Is Hungry For Dataram MemoryBy
The tech meltdown may be creating compelling buys. Companies whose products benefit from the growth of the Internet and its widening applications have not been immune to the market's dive. Take Dataram (DRAM), which slid from 28 on Mar. 14 to 16 7/8 on Apr. 12. As a low-cost maker of gigabyte-size, printed-circuit memory products, Dataram feeds on the proliferation of e-commerce and of Internet-based transactions and corporate intranets.
"Several tech factors are driving Dataram's positive outlook," says Steve Loewengart of investment bank BlueStone Capital Partners, who thinks the stock is way undervalued. Memory-gobbling Internet usage is doubling every 95 days, 2 million Web pages are being added daily, and 3-D graphics are becoming standard, says Loewengart.
As a supplier of high-performing memory for workstations and servers, big customers include America Online and other Net service providers. Computer makers also are customers, including Compaq Computer, Dell Computer, and IBM.
Loewengart has an intermediate price target of 32 and a long-term goal of 39, based on his earnings estimate of $1.43 for the year ending April, 2002.
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