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Technology Stocks : Applied Magnetics Corp

APM 1.141

+3.8%

3:59 PM EST

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To: T Bowl who wrote (11981)	5/20/1998 9:59:00 PM
From: Jonathan Bird	Read Replies (4) of 12298

Todd says: I spoke to CC a few weeks ago and asked specifically about the 2.1GB TFI head for Samsung. His comments were: "they have requested that. But we haven't demonstrated we can make it. We never intended to make it. We stopped development on that head last fall" I am taking "we haven't demonstrated we can make it" to mean that they haven't produced any qualification samples. Is this correct? And yet... The 10-Q says: the Company is currently working on completing qualification* of the Company's 2.1 gigabytes per 3.5" disk advanced inductive thin film product.* Maybe they should start the qualification before they talk about completing it. What am I missing? Subject to successful qualification, production volumes will commence in FQ498 and will be expected to continue through at least the first quarter of fiscal 1999. With such a possibly short product life I am a little surprised that Samsung is even interested. Is this unusual Todd? Know anything about that Stitch? It sounds to me like they are not even attempting to qual a 2.1GB MR head which is not surprising I guess. No, not to surprising at this late date. They basically admitted to missing the boat in the 10-Q. But it makes digging up the 2.1 TFI sound all the more strange. if WDC sticks with their traditional 2 supplier system Do you know if there something magic about the 2 supplier level? Stitch? Something contractual perhaps? Maybe 3 suppliers doesn't leave enough volume per supplier to make it attractive? Just wondering if there are any real barriers are for APM to become a third supplier for WDC or Samsung. At this point I imagine that APM is pretty desperate to get in the game having missed the 2.1 practice lap. Glad to be short APM, I bet. This should have happened months ago. Unfortunately I lost faith in this dog after the stock didn't behave as I expected and I am heavy into other plays right now. But the price is quickly approaching the level where someone like Craig Crispin is supposed to step in and turn it around. I know the popular notion on this thread is that APM is soon to be defunct. But if they can re-sync themselves with the pace of the industry there may be opportunity on the upside beginning 6-12 months from now. What do you think? Jon Bird

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