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Technology Stocks : Apple Inc.

AAPL 277.96

-0.3%

Dec 8 3:59 PM EST

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To: Eric Yang who wrote (7398)	1/7/1998 9:14:00 AM
From: Richard Habib	Read Replies (1) of 213174

Eric, well like you I missed out on a good part of yesterday's gains. Made Fidelity some money though. I think even if I'd been in SF cell phone in hand, Jobs still would have fooled me with the way he handled the announcement. The man has no respect for the poor investor who isn't rock solid long term. Oh well. I've only got about 1/3 of my investment still in play and my last trade was out at 19 3/8. The question is where is it headed. I agree with you I think, I'm looking at flat to slightly down earnings through 3 qtrs with earnings starting to increase again by CY 4th qtr 98. I'm guessing $1.15-$1.21 for CY 98, given a PE of 30 by year end, I guess $32-36. The question is when to get back in. Argus rpt of 7 Jan is neutral still, even given the .35 and S&P remains negative. I'm guessing brokers will be advising caution and stock will drift down some. Course I've been wrong before, namely yesterday. Rich

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