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Technology Stocks : C-Cube
CUBE 36.64-0.5%Dec 5 3:59 PM EST
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To: C. Niebucc who wrote (33895)6/17/1998 3:37:00 PM
From: Bob Strickland  Read Replies (2) of 50808
 
If either of these reasons is true, you may see CUBE trade below $10..

If a China devaluation is the problem, we think CUBE will weather it
well.

OR IS IT SOMETHING ELSE? Endless rumors circulate on the collapse of
the VCD business. Far more damaging would be the loss by Divicom of
key Echostar business. Our understanding remains that the VCD
opportunity is gradually declining, and Divicom's relationship with
Echostar is firm.

WE THINK THE STEEP DROP IS A MAJOR OPPORTUNITY, BUT.The timing is
unattractive and our conviction is not 100%. The chip industry
itself clearly is now looking at a 5% 2Q98 decline and facing the
normal negative summer seasonals.

Clearly, there is a heavily motivated seller in the market. Until a
better understanding on the motivation of the seller emerges, a
thorough reappraisal of CUBE's growth and profit opportunities is
required. MORE NEWS AFTER FURTHER DISCUSSIONS WITH MANAGEMENT.
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