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Pastimes : Ask Mohan about the Market

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To: Tom M who wrote (15948)	6/29/1998 6:20:00 PM
From: Zeev Hed	Read Replies (2) of 18056

Tom, I still think that ADPT under 15 or so is a good long term bet. I am disappointed with the Symbios deal not going through, and even more so that it went to LSI for $15 MM less. LSI is a very strong company and could prove a tough competitor to ADPT in the SCSI market. Furthermore, LSI should be able to exploit the Symbios Fab rather than just shed it. Yet we are now left with ADPT having a war chest of more than $600 MM, no debt and probably looking around through all the wounded troops in the semis for companies that could rejuvenate and amplify their product line. I am not as bullish as I was at 13 or so with the Symbios acquisition, and as with the whole sector, I still expect after a rally here in July a period of declining prices. Zeev

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