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Technology Stocks : Adobe (adbe) opinions

ADBE 349.63

-0.4%

12:42 PM EST

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To: Senthil Sankarappan who wrote (1713)	9/22/1997 2:17:00 AM
From: Peter Shaw	of 3111

SS, I'm not singing the praises of the Street analysts, I only wanted to state my feelings concerning their reaction to the great quarter. The fact that a negative tone seemed to carry through their question session set off an alarm for me. The company will have much higher SG&A for the upcoming quarter, and the revenue growth target of 20% may be impacted by the recent surge in application purchases, as pent up demand may have been satisfied. I would have preferred to see a more smoothed out demand curve for their products, rather than a sharp spike. Weakness in Asia is going to slow demand in that market for the near term as well. I just see too many issues looming, and have witnessed the stock price getting decimated over very short term, minor points. The profits getting booked tomorrow morning are sizable, and I am very keen on ADBE's long term future. Buying back 20% of the float is great news for long termers.Yes I've sold stocks way too early because of my perception of fair value, but that's life. Cheers, Peter Shaw

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