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VMware Hits Another High

The hot IPO has more than tripled in six weeks.

SAN FRANCISCO -- VMware (VMW) - Get Report posted another all-time high Tuesday.

The year's hottest IPO finished more than 4% higher, closing the session at $92.42.

The company

went public Aug. 14 at an offer price of $29.

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At $92, the stock trades at a steep 102 times 2008 earnings estimates.

The Palo Alto, Calif., virtualization software company is due to release third-quarter results on Oct. 24.