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Technology Stocks : Adaptec (ADPT)

ADPT 15.76

+6.1%

Dec 10 3:59 PM EST

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To: Bill Ulrich who wrote (1097)	2/24/1998 1:40:00 AM
From: Torben Noerup Nielsen	Read Replies (2) of 5944

All, ADPT must be one really lousy company. Management is stupid enough to break all sorts of accounting rules. And then they go spend the better part of a billion dollars buying a worthless company. Add to this all sorts of other things they have been accused of doing in the last few months. What really amazes me is that this same company has what I consider the leading SCSI product selection. And it comes with a really neat piece of code to set it up and check it out. They also have what is supposed to be leading software for making writeable CDs. And they are already heavily into firewire which is a pretty good standard with a lot of consumer electronics applications. And then there is fibre channel; they seem to have a really good lineup there too. Add in all of the small things like their satellite IP receiver cards which are supposed to come out. And let's not forget those network cards which they are selling. Something seems wrong here. And take a look at all those lawsuits. I did some screening the other day to look for companies with poor price performance over the last half year or so. Lo and behold, a lot of them had missed earnings and all of a sudden a collection of law firms sprung up and started filing class action suits. What is really interesting is that there are relatively few of these legal companies. Doesn't it strike anyone as a little strange when it is always the same companies that sue? And who wins in one of these case? The investors? Somehow I doubt it. I bought some more ADPT today. I am looking forward to seing how they do over the next few months. I would be surprised if they go bancrupt..... Cheers, Torben

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