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Technology Stocks : Western Digital (WDC)

WDC 163.26

+3.5%

12:59 PM EST

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To: Chi Pan who wrote (8086)	12/6/1997 7:23:00 PM
From: Brian Lempel	Read Replies (3) of 11057

I don't think WDC will go into the low teens, or even come close to single digits. It has already gone down from $54, and I think most funds have already sold. This has also probably been exascerbated by funds not wanting WDC on their books for the end of the year. And here's a question (honestly) to the bears: How much further do you think DD prices will go down? I ask this because further declines are clearly factored into estimates for '98. WDC is expected to post a profit this quarter, but not again until 1Q '99! The MR transition and any lower yields associated with it should not be affecting earnings that far in the future. Also, I just read a Lehman Brothers report on WDC. I think that their research is the best I have seen (It has never contradicted any of my opinions on a stock). It says that they are reccomending their clients to buy WDC on the first sign of a turnaround in the industry trend. I know this proves nothing, but at least it shows you what the sentiment is. So while WDC is beat up now on low future expectations (which I find to be unreasonably low), a turnaround in pricing trends will likely spark a drastic comeback. Brian

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