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Technology Stocks : Apple Inc.

AAPL 259.95

-0.4%

3:59 PM EST

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To: Marc Newman who wrote (16050)	7/29/1998 3:29:00 PM
From: Alomex	Read Replies (1) of 213182

And trading-wise, I think we're looking at $38 by Aug. 15, minimum. Yes, I think there will be shares exchanged at that price in August, possibly even over $40 if iMacs sell well.... No, it won't hold there, just like it didn't hold at $30 back in May. It wasn't until two months later that if revisited that price, with stronger fundamentals. This time it held there. If you look at the chart, AAPL has been building this type of support levels for quite a while: $16-17 in February 1998 $24-25 in March/April 1998 $26-27 in June 1998 $31-32 in July 1998. The next support level will be at around $33-35 until next quarter figures/actual iMac sales figures are released. My year end target still at $35-40. Of course solid iMac sales to non Apple users would necessitate an upward revision to that projection... p.s. I'm still long in Apple. I thought about day-trading during the latest fall and rise but decided against it...

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