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Technology Stocks : Read-Rite

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To: Tom Simpson who wrote (3045)	5/4/1998 6:07:00 PM
From: Stitch	Read Replies (2) of 5058

Tom, <<Could even be some kind of joint operation to produce HSA's I suppose. >> Isn't that a titillating thought you have tossed on the table?! One can't help but wonder where this agreement could lead. For now both sides are underscoring that there is no exclusivity. But there is a non trivial investment in time and money for both companies implied here. This is what Morgan-Stanley stated in their quick response report: (The following is reproduced here for personal consumption only:) - The announcement with WDC is also somewhat symbolic in our opinion as we suspect that IBM is making a statement that it might not be terribly aggressive in the desktop disk drive market itself, instead choosing to play that market through its component manufacturing business.>> For an idea of how serious IBM is about the head business look at the numbers. IBM has shipped just over 10 million MR heads since they announced their intention to supply heads to the OEM market. Nine million of these heads have shipped in the last 5 months. The two largest independent (non vertically integrated) head consumers are Maxtor and WDC. IBM has lead supply positions with both now. Best, Stitch

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