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Technology Stocks : Applied Magnetics Corp

APM 1.640

+5.1%

Nov 19 3:59 PM EST

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To: Don Earl who wrote (10994)	12/11/1997 2:00:00 AM
From: Mark Adams	Read Replies (1) of 12298

Well, if we weren't bucking a negative market, this would be easier. Thought you all would be interested in this: TOKYO, Dec 11 (Reuters) - Salomon Brothers said on Thursday it had downgraded TDK Corp (NYSE:TDK - news; 6762.T) to an M rating from its previous O. Salomon analyst Koichiro Chiwata attributed the downgrade to the negative impact excessive stocks of hard disk drives (HDD) and sharp price falls in the United States were expected to have on drive makers. The decision also reflected an expected oversupply in magneto-resistive heads in 1998 and worries over future prices of these components, Chiwata said. The quantum cc revealed that quantums MKE joint venture produces about 20% of their MR head requirements (at a loss) internally.

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