Disk Drive Sector Discussion Forum Message Board

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Technology Stocks : Disk Drive Sector Discussion Forum

WDC 240.91

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3:59 PM EST

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To: Z Analyzer who wrote (7771)	1/12/2000 8:30:00 AM
From: Sarmad Y. Hermiz	Read Replies (1) of 9256

What I found more amazing is that Seagate is reserving $88 million for taxes for the Q. If they had losses, why the taxes ? I think they sold $343 million of Veritas stock. So if $88 mil is all the tax they pay, then their rate is 25%. Unless they had some tax credits due to losses. Very much less than the 40% that analysts subtract when they value SEG holdings. At this rate, the disk business is valued at -$15 per share. Also their share count is 214 million. Maybe this is average. Is there any indication of buyback ? Did they release a balance sheet ?

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