Joe, I got religion myself and hopped on at 22 5/8.
Like you, I've been positively swayed by the quality analysis I've read here. Still a gamble the company won't live up to 1997 revenue projections, but the price of admission to find out has at least finally gotten reasonable. Impossible to call the bottom on this yet, though. Too much blood spilling across the sector. Once a solid uptrend seems to develop though, I'll be averaging up to around 30.
What really nudged me into the bull camp was a presentation I heard by John Chambers, CEO of Cisco (my favorite tech company), at the Bear Stearns Tech Conference. In short, he feels partnering, the importance of being first to market with customer driven products and achieving a commanding market share within 2 years of a product introduction are the keys to success in the tech sector. Iomega seems to be meeting his requirements. I may be stretching the analogy, but if Cisco can go from 0 to 30 billion in 6 years, maybe Iomega can too.
I've bought my ticket, now will someone please pass the popcorn?
cheers,
Rick Mortellra
Tokyo |
