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Technology Stocks : Ampex Corp: Digital Storage
AMPX 12.49+2.1%Feb 9 3:59 PM EST
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To: jonggua who wrote (2344)3/18/1997 5:22:00 PM
From: Bruce Bacon   of 3256
 
I agree James, it seems a bit difficult to get much out of IR. So far, I have basically established a "base" long term position in AXC based on the prospect of KM. Right now, I'm looking at loading up with shares for a shorter term play on the basis of the EPS for 97 coming in near the Zacks estimate. My thinking is that I will still have a good safe run up to 10 before the end of the year regardless of KM, and then have gravy if KM takes off. Before loading up, I am trying to get some confidence built up in the Zacks estimate and am also looking for the bottom to buy in at margin. As for EPS, it sure would be nice if we had some institutions estimating. In the absence of more then one estimate, I will probably hold off until at least next quarter results to get a feel for it since IR is not helping. As for the bottom, to some extent I think we are probably close or at least within a point (gut feel) for now. The Mitsu lawsuit could change all that so again, I look at the end of April for earnings and lawsuit results before backing up the truck. I think the hole in my plan is if the lawsuits favor AXC and the shares react or if a KM announcement comes out of left field before end April. Then I'll be kicking myself I suppose. Anyway, as for the position I currently have, I can't help but feel comfortable. This company has way more upside potential then downside potential.
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