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Technology Stocks : WDC/Sandisk Corporation

WDC 176.34

-5.8%

Dec 12 9:30 AM EST

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To: Steve 667 who wrote (3322)	6/19/1998 6:12:00 AM
From: limtex	of 60323

Steve and all - So far as the way other high tech companies do things by ramping the stock the day before and getting out wholesale hours before the announcement lets leave that to the SEC. They will get tot the bottom of it very quickly. CAN WE ALL PLEASE PHONE THE SEC TODAY AND GET THEM GOING. This announcement is simply the worst I have ever seen except for one announcing bankruptcy. Even PTEK this week said OK they made a loss but the future looked OK. This announcement reduces hope to nil. Low bacblog means no orders for product doesn't it? Visibility in to third quarter continues to be limited means that the business is getting worse. Seems to me the following:- 1. The market in CF is red hot. All the fugures indicate that sales of CF are going to double in $ terms and that means more than double in unit terms. 2. There wasn't much of a market in Asia lastyear since the overall market wasn't that big and in any case Japan has been in recession for years not days. 3. CF has a material component of its components paid for in Yen. That should have helped margins. 4. We had 60% of the market -- we had all the main deals with Kodak and others - - we had the most advanced technology - - - we had royalty and patent income and now along comes half a dozen competitors and start selling into the market and just pick up all the growth and get along in business like a house on fire without all the apparent benefits that I list here. How Come? 5. It is clear that so far as SNDK is concerned CF is no longer a business. It might be a profitable for Viking and Lexar and others but not for SNDK. 6. Probalby the same pattern will repeat itself for the MMC card in a few months if it ever sells in reasonable quantities. 7. Since it can no longer make a profit then other than enriching Eli, Leon and others on the board this company has no economic reason to exist. I wish someone could please tell me otherwise after reading that announcement. L

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