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Technology Stocks : Applied Magnetics Corp

APM 1.310

-3.0%

Dec 11 3:58 PM EST

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To: Rational who wrote (10597)	12/4/1997 8:33:00 PM
From: T Bowl	Read Replies (1) of 12298

Sankar - <<WDC might have waited until APM could produce MR and GMR in volume>> Here are some statements in the past that have scared me: "TFI heads have much higher yield than MR, more profit, revenue of MR will not exceed TFI for quite some time" Crisman 09Sep97 " The 1.7 GB should last us at least 3 quarters, could be more" Crisman 09Sep97 {Dec, Mar, Jun} "Net sales and gross margins in the fourth quarter of fiscal 1997 were negatively impacted by lower yields on newly qualified magnetoresistive (MR) programs and 1.7-gigabyte-per-3.5"-disk inductive thin film products, which were in their first full quarter of volume production." APM earnings release 23Oct97 {See the note above about lower MR yields} " The company believes that its pico form factor inductive thin film product solutions at the 1.7-gigabyte-per-3.5"-disk capacity point continue to offer its customers superior price/performance value and plans volume production of these products through fiscal year 1998"APM earnings release 23Oct97. {They expected product to ship 1.7GB heads in volume thru Sep98.} "The company is continuing its commitment to MR product development and became qualified on two new customer drive programs during the quarter, for high-end and for portable-disk-drive applications"APM earnings release 23Oct97. {WDC portfolio is gone, Micropolis is gone(I believe this is the other..).} None of these statements suggest to me that APM is producing MR in volume and with decent yields. todd

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