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Technology Stocks : Apple Inc.

AAPL 259.35

+0.1%

Jan 9 9:30 AM EST

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To: Stuart Scolnik who wrote (4503)	8/27/1997 3:55:00 AM
From: Joe E.	of 213181

Hi Stuart, Re your "I am one of two people who trade this stock" I am trading AAPL too right now. I am unable to come up with a scenario other than a takeover that provides a positive return at the current stock price, given recent trends and their likely extension. While trying to analyze the numbers that would arise under the current management financial turnaround plan, I was unable to uncover such a plan. Although they apparently do definitely plan to have a management, which is certainly a step. If my X#@@ Windows 95 machines didn't crash every day I would just short AAPL til it bounced off book value. But the competition has some flaws. Also the business is wildly profitable - just look at the success of Dell and Gateway who are historically 80% marketing companies. So theorizing, covered option writing and technical analysis trading is about all that can be done until management is hired and then develops a strategy. As you can tell, I lean toward the short side on AAPL, although I expect a bounce if and when they hire a CEO, unless it's somebody from Pepsi. What do you think?

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