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Technology Stocks : Apple Inc.

AAPL 278.72

+0.5%

Dec 10 3:59 PM EST

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To: Loring who wrote (25203)	6/21/1999 6:14:00 PM
From: Richard Habib	Read Replies (2) of 213176

Just my opinion but Apple has been in a holding pattern at a fairly rich PEG ratio waiting for news that would indicate increasing growth going forward. Investors would then have justification for moving the price somewhat higher. The earnings report and MacWorld would provide the near term catalyst for an upward move. Now with this latest news, if true, we may have a relatively serious problem. The P1 was needed to increase top line growth. If it's delayed that's an issue. Since iMacs aren't shipping from the Apple Store as of today or yesterday until end of July, that has to have a serious effect on next qtrs earnings. Next qtr will be a difficult year to year comparison growth wise. No matter the reason for the iMac sales suspension, no matter how much is in channel this won't be favorably looked upon. One of the big issues during the last cc was whether Apple in its effort to reduce inventories was losing sales. Fred assured them several times this wasn't the case. Now we have a 5 week loss of sales. Rich

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