It's current multiple is 244.50 and the forward P/E is still 114.30 while the average multiple for it's sector is around 38 (and it's peers in the application software business are primarily growth companies).
That "explosive growth" you're talking about is already factored into those numbers (nearly 50% YoY estimated earnings growth).
I don't think anyone realizes the growth we could have here. It is just like the initial google effect, look how popular Yahoo was as a search engine back in the late 90's. Everyone used yahoo, then came along google and no one thought it had a chance. People have a hard time excepting change.
I am just saying that this has the potential to be huge and you can't look at past performance to predict the future on this one. Vmware will help the Tech industry a whole move into uncharted territory.
"Before you start calculating, why don't you at least wait for one true VMWare earnings report which will be released late October. Then let's talk about the P/E."
I'm not doing any calculating, those numbers are based on a cursory glance at the current numbers which is also known as best available data (analyst estimates), If one wishes to speculate that the best available data is grossly incorrect that's a different story, I see nothing here that indicates VMWare is "undervalued" and such a contention remains in the realm of dubious speculation rather just the run of the mill Wall Street Analyst speculation.
The high current valuation carries in and of itself a great deal of both long and short term risk (not uncommon for a highly speculative equity) not to mention the current macro economic risks (of which I'm sure everyone here is already painfully aware) that this company is far from immune to.