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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: Norm Demers who wrote (2265)	3/27/1998 11:40:00 AM
From: Sam	of 3111

That is the way it looks looking at a 100 day chart, certainly. More serious support a little lower, though. The drop in their Postscript revenue (51m--->41m) was pretty dramatic to me. The loss of HWP's Boise business doesn't account for all of that. Partly because their margins are so high on that business and partly because the application business drop is more readily understandable (due to the vagaries of the upgrade cycle), that drop is even more serious than the drop in application revenue, to my mind. That is why I think it will test lower levels than 37 or 38 at some point when this whole thing shakes out.

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