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Technology Stocks : Applied Magnetics Corp

APM 1.330

+1.5%

1:06 PM EST

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To: Don Earl who wrote (11086)	12/20/1997 9:45:00 AM
From: T Bowl	Read Replies (2) of 12298

Don Earl <<Also the APM and WDC transition to MR seem to be pretty much in sync.>> They'd better be. WDC is their only customer. But the timing has changed in the last few months: "The Company is actively engaged in qualifying on twelve MR programs with four different customers that should position the Company well for increasing MR production in the latter half of fiscal 1997 and in fiscal 1998" APM 10Q MarQ97 Increasing MR production in the latter half of 1997? It didn't happen. Why? "Initial evaluation units of the Company's 2.1 gigabyte per 3.5" disk MR product have been shipped and qualifications are underway on customer programs, with volume production scheduled for the first quarter of fiscal 1998" APM 10Q MarQ97 This was not mentioned in the JunQ 10q or SepQ 10k. I am not aware of ANY 2.1GB MR APM pgm. Also, SEG is qualing currently for a supplier to their 2.1GB pgm. Where is APM? "MR shipments are currently planned to represent approximately 40% of total revenue by FQ398, by which time the Company anticipates that MR products will become more commonly used in the desktop market." APM 10Q JunQ97 And now they are saying 1.7GB will stop shipping in that Q. Does that mean the 1.3 will still be shipping, or has the timing changed since June on how quickly MR will come on the scene. They did not anticipate the timing of the desktop transition very well. "Samples of inductive thin film products with 2.1 gigabytes per 3.5" disk, in conjunction with media that has been optimized for inductive thin film head characteristics, are expected to be provided to several customers for evaluation in the fourth quarter of fiscal 1997. The Company has targeted these products for volume production in the second quarter of fiscal 1998"APM 10Q JunQ97 In June, they still believed the 2.1GB TFI was viable. I'm telling you these guys have missed the boat. Maybe they were mislead by WDC, but they are WAY behind. todd

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