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Technology Stocks : Apple Inc.

AAPL 273.40

-0.2%

3:59 PM EST

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To: Alomex who wrote (15730)	7/16/1998 9:20:00 PM
From: Phillip C. Lee	Read Replies (2) of 213177

Alomex, Today, NASDAQ broke 2000 level, a significant milestone in the stock history. Microsoft and Sun Micro beat the street estimates by a couple of cents. In after-hours trading, Microsoft retreated a fraction while Sun advanced a couple of dollars. It seems the upward trand will continue even on the options expiration day. Apple probably will break $38 barrier again tomorrow if overall tech stocks perform well led by Microsoft and Sun Micro. Hmmm, it is likely to reach $40 by the end of next week since the company's current quarter revenue will be significantly improved by iMac sales and such evdience is so clear. I think some shorts have covered theirs today and will be doing so as the price dips to some extent and hence the price will be bounced back sooner than anticipated. If I were one of them, I would be extremely scared at this price level along with today's huge volume. The similar heavy momentum should carry through at least another couple of days. Phil

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