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Technology Stocks : Applied Magnetics Corp

APM 1.560

+15.6%

Nov 18 3:59 PM EST

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To: Jadrew who wrote (10999)	12/11/1997 1:28:00 PM
From: Don Earl	Read Replies (2) of 12298

Hi Jadrew, Some interesting numbers: End of quarter 12/28/96 won to dollar 1 to 843. Other income 279,000. End of quarter 3/29/97 won to dollar 1 to 897. Other income 158,000. End of quarter 6/28/97 won to dollar 1 to 888. Other income 305,000. End of quarter 9/27/97 won to dollar 1 to 914. Other income 1,642,000. Q4 97 lists other income as currency related. I've mentioned in ohter posts that there should be an advantage to exchange rates relating to APMs Korean operations. Current exchange rate 1 to 1415. Might keep expenses down a little more that some folks expect. Yes? On the other hand I suspect that the over supply that is causing earnings warnings all through the sector is the result of Asian countries dumping excess inventory at any price they can get to raise cash to cover short term debt. That shouldn't be something that can be done more than once. From what I can tell the majority of head manufacturers are American companies. I don't see how the Asian companies could sustain an over supply for any length of time. I'm not an economist so anyone on the thread that knows more about such things feel free to correct any conclusions I may have jumped to. Regards, Don

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