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Technology Stocks : Avid Technology

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To: David Kuspa who wrote (273)	6/13/1997 3:50:00 PM
From: Justa Werkenstiff	of 777

David: You know I think one of the $64,000 questions to this stock at this time is what earnings expectation the market is anticipating. If it is .11 or slightly better, then the stock should support itself no matter what I think is fair value. If expectations are for an earnings blowout (+.16 like last quarter), then the stock will suffer. I personally think the bar was lowered by analysts with first quarter earnings projected at -.08. Even I said there was a good chance they would beat earnings based solely upon company guidance for '97 goals. I wasn't surprised (except to the degree), but the street went ballistic. Of course, with that said, the quality of the earnings must be excellent. I think the stock is priced now with no margin for even a slight negative. Appreciate your thoughts.

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