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Technology Stocks : Read-Rite
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To: grogger who wrote (3081)5/8/1998 3:36:00 AM
From: Joseph Stumpf  Read Replies (1) of 5058
 
Considering the fact that WDC was a 40 percent customer I would consider the potential deal a disaster for RDRT. That is the trouble when your so heavily dependant on one customer! It would be even worse I think if IBM bought WDC, and WDC became more of an IBM build factory, which I think it may happen one day. I imagine if it did happen it would be more like a Seagate,, suppling parts from with in the company itself. Maybe one day it will be just Seagate against IBM. The only way to survive I believe is to be big and diverse. Just look for example what Microsoft has done to Netscape, check those two stock charts out. I would not be suprised to see a headline 6 months from now that read "Read Right Files For Bankruptsey Protection" Or perhaps it could be bought out, but it seems the competition is happy to build their own factories. As for the conference call by "Read Right" when they released earnings one thing still sticks in My mind. I believe the very last question and answer went something like this.... "Is RDRT buying back any of their own stock or do they plan to do so on the open market?" " Not at the present time we have better uses for our money, but if it moves LOWER and you all want to give it to us cheaper, perhaps" I believe it went something like that. I did not like his tone of voice in that response either. Looks like that doubble bottom has just broken!
Best of luck; Joe
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