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Technology Stocks : Seagate Technology

STX 288.13

+0.9%

Dec 16 4:00 PM EST

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To: jelrod3 who wrote (4216)	11/21/1997 12:10:00 PM
From: still learning	Read Replies (2) of 7841

I repeat: sometimes stocks do not trade strictly on straight PE basis. E.g. many companies with low earnings in one year, but good prospects in the next. (SEG does not yet meet that criteria but will have some cushion against today's bad news as buffered by assumptions about its future) With an industry leader, they will be given leeway to look ahead. I do not see SEG falling to $7.5 under ANY conditions. If they did I would take out a 2nd mtg to buy as much as possible. More realistically they may either be stuck in a tradig range or, as some have suggested float down to the teens. I still feel they will make hi 20s by Spring, but am feeling much less confident than before. SEG clearly has mgmt/operation problems as well as having made foolish currency/money mgmt decisions to compound matters. That said, all of this is priced or nearly priced into the stock today. Someone mentioned that the turning point is when bad news no longer seems to hammer the stock -- I believe we are starting to see that in SEG. You can call that forming a base if you like.

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