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Technology Stocks : Applied Magnetics Corp

APM 1.060

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3:59 PM EST

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To: John Cave who wrote (10274)	11/11/1997 5:58:00 AM
From: Dwight E. Karlsen	Read Replies (1) of 12298

Guys...Your reasonings are ones I made at one time also, prior to APM's most recent earnings release. I sold at the market open the next day though. I'm not here to say I was right, because I lost more money on APM than I care to admit. Hang on if you want here to APM, but the fact is APM is toast, IMO. Here's the reason: APM's strategy has been to milk out TFI. WDC seemed to concur with this strategy. This was important, because customers are obviously important to have, no matter how great you think your product is. Now WDC is racing to press ahead at all possible speed to MR, significantly changing their prior scheduled shift to MR. APM is left in the dust, with factories tooled up to still be producing mostly TFI heads in Q1 98. The strategy didn't work, and that's that. No matter what APM does now, I see big write-offs ahead for APM, and significantly reduced sales for the next few quarters. DK

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