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Technology Stocks : Apple Inc.

AAPL 273.40

-0.1%

Dec 26 9:30 AM EST

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To: BillHoo who wrote (17703)	9/9/1998 10:41:00 AM
From: Steve Andrew	Read Replies (6) of 213177

To All.... I have read thru the majority of recent postings on this board and have found a highly articulate, intelligent discussion of the issues surrounding this Company and its recent products (and product launch). I have a 8-10 year history of trading this name and extensive experience following management and their history of guiding the investing public. All of this is said to illuminate a historical trend of spin that seems to be reoccuring at present. As a professional investor/hedge fund trader, I am seeing a rather dramatic example of pumping the stock by Apple's present management (mostly Steve Jobs). They are accomplishing this by virtue of engaging in serious channel stuffing and press hype. I have contacted several of Apples' largest retail accounts and have heard, to a tee, the fact that they are being told to order more IMAC product than they otherwise would inorder to get time-shipped a realistic amount. This form of channel stuffing is often common in the computer world, but RARE in a new product launch. In the post-CPQ inventory debacle world, this trick is not used much...especially with the Dell real-time construction model dominating the landscape. In fact, one of Apple's largest accounts is furious with the company over this blatant attempt to stuff IMAC down their throats and are contemplating some form of retaliatory policy. This retailer was late-shipped for the back-to-school season and was then forced to DOUBLE their committment to the order ....all to receive their original order in a timely fashion. I won't reiterate all the press hype, nor Jobs history of spinning the facts to his benefit anytime he sees fit. I expect that most of you are at least familiar with this approach. I AM NOT SIGNIFICANTLY LONG or SHORT this stock at present. I am trading the dips and rallies...much like the rest of you. I think the company will have a superficially wonderful quarter and will be well able to hide this stuff tactic at least into the next Q...maybe 1999 even. This message is simply posted to remind all of you that Apple is still a company with some serious deficiencies and managerial shenanigans. I absolutely do not trust Steve Jobs and his team and have history in my pocket to prove it. Additionally, while I do have my opinion of the IMAC product and its ultimate impact on the company and the stock...I am not nearly enough of a technophile to add anything substantial to the debate of its abilities. Simply Put......Caveat Emptor.. Steve

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