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Technology Stocks : Apple Inc.
AAPL 258.290.0%9:35 AM EST
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To: Patrice Gigahurtz who wrote (7077)12/29/1997 7:48:00 PM
From: Eric Yang  Read Replies (1) of 213182
 
Robert: Great link, thanks ! Whats your view, was 2mill a "buy" or "sell" ? I thought it was on the

Patrice: It does seem almost certain that the 2.3 mil shares trade last week was a pre-arranged transaction between two parties. And as such, whether it's a 'buy' or 'sell' becomes irrelevent.

Whether a large block transaction is a 'buy' or a 'sell' is only important when there is a single buyer or seller initiating the transaction while the market as a whole moves to fills or absorbs those shares. In other words, we have a initiator of a transaction, a motive (presumably the party knows something that the rest of us don't), and a market movement in response.

None of that seems to be the case with the transaction last week. Apparently only two parties were involved thus the market didn't move.
PowerComputing is the most likely source of those shares and we know its motive for selling shares. It needs the money. As for the buyer I don't think we know yet. But my guess is that the buyer(s) probably has some close ties with Apple. Apple knows knows that the shares PowerComputing received in the license buyback deal are destined for the market and thus probably has arranged buyers for them. Anyone know if Apple can buy back those shares without shareholder's approval?

Eric
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