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Technology Stocks : Apple Inc.

AAPL 273.67

+0.5%

Dec 19 3:59 PM EST

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To: Sam Scrutchins who wrote (13128)	5/7/1998 8:24:00 PM
From: Phillip C. Lee	Read Replies (1) of 213177

<<If Jobs does a good job next week, we might see a bunch of upgrades.>> Sam, Agree. I think it depends on the contents of announcement regarding software strategies at WWDC. But I also believe conspiracy theory applied on stock's manipulations. There are still 12m - 14m shares of shorts held by institutions as well as individuals and the option expiration date will be getting closer (May 15th). How and when the shorts are going to cover will tie with the market move. Based on today's trend, it seems the momentum is beyond the average but the price cannot find the direction. I think it's normal since both sides still have one or two more days to make their decisions. The condition will be getting a bit nervous tomorrow before WWDC. I doubt we will see too much deviation from $30, let's say the range to be $30 - $30.875 tomorrow. If it could reach beyond $31, then analyst's recommendation will be likely to occur next week. Phil

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