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Technology Stocks : Applied Magnetics Corp

APM 1.300

-2.3%

Dec 12 9:30 AM EST

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To: Stitch who wrote (12153)	7/28/1998 11:58:00 AM
From: J. P.	Read Replies (2) of 12298

<At first I thought you were posting facetiously. Now I am not sure.> Yes, my tongue was firmly planted in cheek when I wrote this. I can't resist a few jabs at APM since I lost money here, but learned valuable lessons about making money in the market. I've always felt Crisman made a bad situation worse with his closed mouth stance, since analysts and investors will never love a CEO who doesn't provide guidance. Obviously, APM was headed south irregardless of what Crisman did, since the fundamentals of the drive business are just awful. Look at Western Digital floundering at 10. And my tech market guide (The Best Buy catalog in the Sunday Chicago Tribune) shows Maxtor selling a 13 gig drive for $350 bucks! So things are getting worse for these guys. I can't imagine a future scenario where drive makers achieve any pricing power whatsoever, unless they come up with a breakthrough new paradigm technology.

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