Applied Magnetics Corp Message Board

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Technology Stocks : Applied Magnetics Corp

APM 1.070

0.0%

3:59 PM EST

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To: Paul Senior who wrote (10344)	11/15/1997 2:03:00 AM
From: Jonathan Bird	of 12298

<<Since I'm not interested in trading this stock, the next two quarters performance are not that critical to me.>> I can respect that. If trading weren't so much fun id do the same.:) <<And I assume that traders already expect what you are saying might happen and are exiting the stock -- "dead money" perhaps?>> I'm not so sure. I think this stock is being proped up by the past PE. With WDC(largest customer) droping 1.7 TFI APM loses the suposed cash cow that was supposed to show how brilliant Crimsans strategy was. And with everyone else(RDRT) bailing out of TFI, MR prices will come down and leave even less price advatege to TFI(if it exists anymore). As far as being a manager I think Crimsan is first rate, but his strategy isn't panning out. It was a worthy gamble but he lost it appears. I remember APM at 22 when the forward PE was 4 bucks. Now the latest estimates for APM are 2.15. That was before WDC dropped TFI. If Crimsan were to really come out and say APM would make no money next QTR you really think this stock wouldn't tank to 12? But he won't come out and say that. Cause if he warned once then he'd have to do it again nextime, to paraphrase Crimsan. We will have to wait till earnings. Either way im gonna play this dog up or down. Good luck to the longs, who I think need it a hec of a lot more then the shorts at this point. Jon Bird

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