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Technology Stocks : Applied Magnetics Corp

APM 1.370

-2.1%

Nov 6 3:59 PM EST

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To: Stitch who wrote (11452)	3/13/1998 2:33:00 PM
From: Dave Chanoux	Read Replies (2) of 12298

The TFI business ended 6 months earlier than had been planned, leaving a 2 quarter "hole" in APM's business. That's a deep wound but not necessarily lethal, in my opinion. Seagate is qualifying ReadRite - stated in the ReadRite conference call on 1/21. I would expect they would be qualifying others as well, although I have no facts to substantiate that. Todd and I had an exchange in this thread several weeks ago which would lead one to believe that APM management stated that they would not work with Seagate. I suspect that was a mis-statement or mis-interpretation for two reasons: 1. When you need business and there are only a few possible customers, you don't tell one of them to go jump. 2. Seagate bought Connors who was APM's biggest customer in '95, so the people should all know each other and must have some willingness to work together. But these are conjecture and I have no facts or observations to support them. And then there is WDC. With all this uncertainty, I wouldn't want to be long or short in this one. Regards, Dave Chanoux

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