Disk Drive Sector Discussion Forum Message Board

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Technology Stocks : Disk Drive Sector Discussion Forum

WDC 160.04

+5.2%

3:59 PM EST

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To: Sam who wrote (9166)	11/4/2002 10:43:28 AM
From: Ron M	Read Replies (1) of 9256

Depending on one's opinion of Gilder et al, their commentary re WDC may be interpreted as either buy or sell. November 1, 2002 Memo to: Readers of the Technology Market Advisor RE: Western Digital at today's price. From Andrew Redleaf and Richard Vigilante When we recommended Western Digital on July 25 (closed at 3.09), we noted that, because of the rocky history of the disk drive industry, we did not expect to hold the stock for the very long term. At today's price, well above $6, investors who followed our call have more than doubled their money. The stock, however, is now well above historic average PE and PS ratios and trading at more than 10x book value. We have no crystal balls. It is quite possible that the stock will go higher. We remain very impressed with the company's progress, and there is more evidence all the time that WDC's decision to focus "downmarket" on IDE drives was the right one. We remain optimistic that the company's future progress will vindicate its current price. Nevertheless, "quite possible" or even "more likely than not" are not the standards we use for betting our money. If we were considering this as a new position today, we would not advise investors to enter the stock at 6 plus. Any position we would not open is a position we believe we should close.

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