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Technology Stocks : Adobe (adbe) opinions

ADBE 320.13

+0.8%

Nov 28 9:30 AM EST

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To: Mark Palmberg who wrote (2243)	3/27/1998 10:12:00 AM
From: Mike Connolly	Read Replies (1) of 3111

Mark, I've been holding this stock 2+ yrs but am now losing faith in management (the main reason I got in in the first place) -- I thought they were downright arrogant on conference call -- CFO effectively told analysts that they hadn't done their jobs right (i.e., properly interpreted the hints he was dropping about earnings prospects during the quarter). I'm afraid they richly deserve a shareholder suit, but may luck out if stock doesn't drop too dramatically. They had no new products ready for Seybold -- usually their big show. And mgmt refuses to say a word about when/what new products might be coming. I'm sure there must be some soon if they are running down channel inventory, but am amazed that they would remain so smugly quiet and unexpansive on their plans after missing estimates so badly. Got out this morning at a gift of 46.75; may get back in later if it drops enough, but my faith is badly shaken (worse than any time in the past 2 yrs). Really expected them to beat earnings with the Mac's seeming comeback. Also was pretty shocked how much PC growth dropped off -- was counting on this to drive overall growth >20%, but now PC growth is only 18%. You still a believer?

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