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Technology Stocks : Apple Inc.

AAPL 273.85

+0.5%

Dec 24 12:59 PM EST

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To: Phillip C. Lee who wrote (8223)	2/6/1998 2:09:00 AM
From: Marc Newman	Read Replies (2) of 213177

Phil, I don't know anything about Firestone except what I read in the Recon piece. Morgan thought he would be seen as a very positive choice by the Street. As far as the currency and the current quarter, yes these factors might spur purchases of Macs, and yes, if Apple did beat last quarter's revenue while continuing to cut expenses it would be one of the top ten stocks of the year, but Apple will get little to no benefit from currency swings. Every major company hedges like mad so that swings don't affect them. Numerous people have told me this and I've read it in the WSJ, etc. It seems that every time currency swings are favorable to Apple someone brings this up. I seem to remember it being mentioned sometime in 1997 (the poster was convinced it would mean a windfall worth tens of millions) and it ended up making no difference at all. Marc

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