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VMware stock ready to spike!

TheStreet reporting:

Shares were up $1.28, or 1.8%, to $71.07 midday. Its first trading day aside, when VMware rose as much as 90% above its offer price of $29, the stock has proved to be volatile in its first month.

It jumped 15% in a single day a week after its August debut, and shares closed up $5.58, or 8.7%, Thursday, giving the ticker a forward P/E of 77.

The company is sure to use the conference, which begins Sept. 11, as a platform for product-line enhancements. But VMware's competitors, such as Microsoft (MSFT - Cramer's Take - Stockpickr - Rating), will also be on hand finding ways to ride the debutante's virtualization train.


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