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Technology Stocks : Apple Inc.

AAPL 278.85

+0.5%

Nov 28 9:30 AM EST

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To: Eric Yang who wrote (7343)	1/6/1998 3:39:00 PM
From: David Semoreson	Read Replies (1) of 213173

Based on 25% margins and expenses of $350 per quarter, AAPL makes about $50m on sales of $1.6billion quarterly. So I think there are no accounting games in the $45 estimate; it should be operating results! Thats annualized to $6.4 billion annual sales to make $200 million annual profit. That would be $1.50 annual per share based on 133 million shares outstanding. And upside of Rhapsody with NC's haven't hit yet. What would you project as 1999 earnings potential? Say $2 per share and you don't have to press too hard to imagine a stock price around $30 now! Say $2.50 and you could fantasize about $50 (but only if people didn't think AAPL is going bankrupt - which they still do!) Lets see what spin the papers put on this tommorrow!

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