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Technology Stocks : Apple Inc.

AAPL 278.79

-0.7%

Dec 5 9:30 AM EST

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To: mike kennedy who wrote (1225)	2/6/1997 1:22:00 PM
From: Phillip C. Lee	of 213173

Mike, The Book Value is not misleading at all if you want to invest conservatively. There are so many Instituational investors who invest based on book value, or P/S value. Part of reason why drive INTC and MSFT so high is because there is so much 401k money on the sideline (due to the baby boomers retirement contributions). The money managers keep piling up onto these two stocks without concerning their fundamental values, which is the money game - it is very dangerous for individual investors. For the long term (one year+) investments, I bet Apple would be safer and more rewardable than INTC and MSFT. Apple's pattern is very similar to DEC's in 94, where DEC hit at the bottom of 19+, and has been through the major restructuring, then DEC recovered back up to 76+ in an half year. Nobody can ensure where the bottom of Apple would be, but from the historical data, it tell us it could upswing up to 60+ for a certain period of time depending on the overall stock conditions and how fast Apple recovers.

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