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Technology Stocks : Applied Magnetics Corp
APM 1.310-3.0%3:58 PM EST
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To: Frodo Baxter who wrote (12276)6/7/1999 3:12:00 AM
From: Donald Isenhower   of 12298
 
Thanks Lawrence and Harve,

I would agree that tendering at four and buying it back at a cheaper price would seem to work, but as Lawrence has pointed out, this stock is much more likely to be worth less than the current price than more, especially considering the continued problems seen in DD oversupply (my portfolio hates it, but I just bought a 90 Gb system for $3400 and can add another 90 Gb for around $3000 (Seagate drives), so cheap drives are solving my need to copying files back and forth from tape!). For some stupid reason I kept 200 shares just to use for the tax writeoff when I sold something else since I see no sign of life from APM sales. You would think that after two years they would have qualified an MR drive program with somebody to sell some products! I remain confused that there has been no reorganization of the managerial people with such pathetic performance. Of course if I never get the tender offer, it will be moot point unless there is something going on that is going to convince some sheep ripe for fleecing that APN is ready to move up. Then it is tempting to buy here near $3 and hope to sell to some fools for $4, but unless I get the same offer from my broker there is no way I would gamble like that.

Donald
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