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Technology Stocks : Apple Inc.

AAPL 276.46

+2.6%

3:59 PM EST

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To: Bob Jagow who wrote (3546)	8/4/1997 9:10:00 PM
From: bobby beara	of 213185

Bob, I stand corrected. When they become profitable in late 97/early 98 I expect this to change. You have to at least admire a technology company that pays a dividend. It's unheard of in this day and age. This is shareholder value Graham & Dodd scream about. Not this share buyback baloney pulled by most companies. Sure this works in an up market, but will it work in a down market. NO! IMO, we are in the beginning phase of a secular bear in large caps. With high dollar, interest rates pressures, UPS strike hinting at coming wage pressures and inflation, foreign competition heating up. Money will start exiting these 40 p/e companies with 3-8% growth rates and rotate into companies with great balance sheets which include both cash and intellectual capital with loyal customer bases bought thru excellent service and products. Sounds like Apple. I can wait for my dividend till 98 while Apple gets it's house in order, and that will be short order - OS8 - 350mhz - Rhapsody - Larry Ellison - Prince of Saudi Arabia - sounds like the house is being built on a firm foundation. I would like to live in this house. -Bob

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