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Technology Stocks : Apple Inc.

AAPL 270.60

-0.5%

11:10 AM EST

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To: Olof C Hellman who wrote (15516)	7/15/1998 3:23:00 PM
From: Eric Yang	Read Replies (2) of 213177

"I think even 0.50 would send us sliding back a little tomorrow. Remember Q2, when a complete blowout barely moved us at all? aapl at earnings time is as illogical as a stock can get." In the short term...no one knows how the market would react. The market is too volatile on a daily basis. But think of it this way. If we get $0.50 in Q3 and earnings in Q4 98 and Q1 98 are certainly going to be higher than that. Base on this fact I think estimating annual EPS based on 4X $0.50 = $2 would be conservative. So let's take that $2 and estimate how much the stock would be worth if we also use a very conservative PE of 20. This was our PE just a few weeks ago. 20 X $2 = $40 That would a pretty fair value of AAPL. Is the market going to see that in the short term? Maybe not. Will it realize this over the course of next 3-6 months? I'm fairly confident of that. (This is based on the hypothetical situation that we hit $0.50 this Q of course) Eric

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