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Non-Tech : Any info about Iomega (IOM)?
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To: DrGamble who wrote (3898)7/1/1996 5:21:00 PM
From: Mary Cluney   of 58324
 
Michelle, Fundamentals haven't changed since JPM recommendation. In fact, it may have gotten stronger. Io announcement of $50 rebate this morning indicate supply problem is over. Price cut is in line with management announcements long ago that prices will be cut not because of market conditions, but will be cut for strategic reasons. It was announced long ago that Zip was eventually to sell for $99.00. Anybody thinking about getting into this business should think again.

Rebates should insure sales during the dog days of July and August. Look for further price cuts in October to spur year end sales. Also look for announcements of new product (200MB Zip) for the Christmas selling season.

I can't know for sure how Wall Street will react, but IOMG sales 2Q 1996 will be sensational. Its not often that companies report 400-600 percent sales increase. That is what we are going to see.

Very few people follow IOMG, or any stock, the way we follow Iomega here.

Unless fundamentals change, I wouldn't worry about temporary drop in share prices. also, we really shouldn't rejoice if prices go up without change in fundamentals. After close of business July 18th, we will know what Street thinks about Iomega share prices. IMHO it will take Wall Street several more quarters before they believe Iomega is for real and not another Internet Hyped stock.

I'm pretty sure we are going to have to state this over and over again. The objective is to gain market share and to become the new standard. Short term profits mean very little in terms of what Kim Edwards is trying to achieve.
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