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Technology Stocks : Macromedia...making a comeback?
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To: av ram who wrote (2189)5/5/1998 5:21:00 PM
From: Altaf Amin Jadavji  Read Replies (1) of 2675
 
From Briefing:

APPLE COMPUTER INC. (AAPL) 29 1/16 CLOSED. Shares of computer maker could again be in the spotlight this morning as the company has agreed to acquire certain technology from Macromedia (MACR 15 1/2) to enhance its QuickTime software. According to Apple, the decision to acquire the technology from this digital media software maker will allow Apple to "make QuickTime the industry standard for digital video authoring and playback on personal computers and over the Internet." By doing so, Apple is reinforcing its strengths and focussing its efforts on products that it has a clear competitive advantage and which allow the company to demonstrate its technology know-how. Too many times in the past it has deviated from its strengths and tried to be all things to all users. With the return of Steve Jobs as CEO, even on an interim basis, he has brought stability and focus to this computing company which is starting to again be reflected in its stock price. Since the beginning of this year, the stock has risen by 76% and is currently less than a point below its 52-week high of $29 3/4. It certainly has not hurt that the company has been able to climb into the black and post earnings growth, although it is still working on repairing the revenue trend. If progress continues to be made on this front, the stock is likely to pierce the $30 level sooner rather than later as Apple currently trades at less than 20 times projected 1998 EPS of $1.47 and 16 times 1999 earnings estimate of $1.81 a share.

Regards,
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