Applied Magnetics Corp Message Board

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Technology Stocks : Applied Magnetics Corp

APM 1.420

+1.4%

Nov 11 3:59 PM EST

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To: Bosco who wrote (11573)	3/24/1998 4:44:00 PM
From: William T. Katz	Read Replies (2) of 12298

It's not a DD glut that should be factored into the price. It's the fact that APM dropped the ball on MR head production and there are some good competitors like IBM and RDRT, not to mention Japanese head makers. QNTM has captive head capacity but I also wonder what happens to those MR heads when QNTM has big reduction in retail ... do they get shopped out? APM has already shown that they can lose more than $1.50 per share in a single quarter. They also guided people to #s this quarter that would match last quarter. Given QNTM performance, I would imagine they do even worse this quarter than last quarter ... have they qual'ed any new MR heads yet (and those would be revenue in later quarters as well)? The problem is this market. It's simply stupid and euphoric. John Doe the baby-boomer has got no where else to put his money so he slaps in down on the stock market. It's very typical for the common investor to not even be aware of fundamentals .. you see it in AOL's stock price (quite absurd). They say, "oh .. I think they should do OK next year." When you ask them whether they are not already trading at prices several years down the road, you'll get a blank stare and a dismissal of whatever valuation the stock currently has. Some days, I look at the market and hope for a minor correction before we set ourselves up for a major crash. It may already be too late.

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