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Technology Stocks : Disk Drive Sector Discussion Forum
WDC 139.09-0.8%Nov 21 9:30 AM EST
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To: Tom Simpson who wrote (3080)4/27/1998 4:39:00 AM
From: shane forbes  Read Replies (1) of 9256
 
Tom:

First let me add that in as much as I wish it was all due to the currency thing, I do realize that reality probably precludes that from being 100% accurate! As I have mentioned "probably all fiction".

Second yes WDC was caught in a product transition minefield. But Lynch has oft repeated the theme about "top notch management in crummy industries". Well DDs are a crummy industry. However re: WDC mgt., while doing my little bit of Due Diligence on DDs (or DDDD) I noticed that WDC seemed to have a very high ROE, debt/equity brought down to zilch, very high productivity / employee and steadily going up, what looked like a successful transition to a pure DD company from 5 years ago, a concern for shareholder value, stock buybacks, insider buying etc etc.

I'm reasoning that this mgt. team is still around and whatever rabbits they pulled out of the hat in the 5 years leading upto 1996 they can pull out once again. We shall see.

If it is entirely a product transition issue then I am set. And WDC is golden. On the other hand if it is something more problematic and fundamentally wrong then the stock will be road-kill and the Maxtors of the world will rule. Again time will tell.

Shane.
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