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Technology Stocks : APSG - Applied Signal
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To: Christopher Brainard who wrote (543)10/25/1997 3:15:00 AM
From: Robert K. Schott  Read Replies (1) of 884
 
Christopher:

I too was somewhat disappointed when Cowen reinitiated coverage with a "speculative" buy, and particularly with their estimates. considering the levels of new orders and backlog reported in the last 10Q, I am at a total loss--as I indicated in a previous post--as to why they are now expected to make significantly less this quarter than last.

why should this be when they have greater new order and backlog levels at the beginning of this quarter than at the beginning of last quarter.

and I haven't a clue how Cowen came up with the estimate for next year. stranger still, why the sudden buying frenzy some while AFTER Cowen's reinitiated coverage? as I said, strange all around.

I would hope that there is a lot of room for an upside surprise both for this quarter, and for next year.

BTW, we had a poster awhile back (I'm sorry, I can't remember whom, but I hope he or she is still with us) who seemed to know what he or she was talking about. some while before Cowen reinitiated coverage, this person reported that Cowen was buying up stock, presumably in preparation. add this to the analysis. why did Cowen award the issue any sort of buy if they are only projecting ten percent growth, with earnings of $.77 next year???

best regards
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