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Technology Stocks : Apple Inc.

AAPL 273.67

+0.5%

Dec 19 9:30 AM EST

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To: J R KARY who wrote (28907)	9/29/2000 4:35:50 PM
From: Don Troppmann	Read Replies (3) of 213177

J R KARY: Is my math right... Sydney projections by Anderson were about 2B for the Sept qtr making the 2000 YTD of about 8B. The market then extrapolated earnings at 45 cents per share for 2000. Now according to Anderson the Sept qtr will come in at about 1.85B or about 7% less revenue, for the qtr, than expected earlier. The eps is now expected to be about 33 cents per share or about 26% less than expected earlier for the qtr. And some of that eps drop is expected to be related to special charges, not operating earnings. What is fascinating is that even with the current expectations AAPL will end up the year with top line growth, year over year, of about 30%. Just last year most people were unconvinced, even though Apples margins were better than any other of the box makers, BECAUSE there was no top line revenue growth. (From 5.9B in 1998 to 6.1B in 1999) Now the market slams AAPL for what appears to be a slow down in earnings growth rates while their revenues are still growing at a 30% rate. Unless AAPL's margins have gone in the toilet I believe the stock will make a quick reversal, on the release of the actual earnings reports in October, and fill the gap. Don T.

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