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Technology Stocks : Adaptec (ADPT)
ADPT 17.88+2.1%Jan 20 3:59 PM EST

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To: Patrick O'Connor who wrote (3644)9/15/1998 8:49:00 AM
From: Gary Burton  Read Replies (2) of 5944
 
My point was that relative to some others, ADPT is still a few $ overvalued. For eg you can buy ASYT a semiequip and leader in its niche market of automation and profitable in June qtr) at $8.88 ---this is down 80% from its 1 year high and at 8.88 it is trading at only 36c above Net Net Working Capital (cash+ a/r+inv less ALL liabilities), 2/3rds of book and 79% of its stock price is cash (bo LTD). Also, it is down for industry reasons not company specific. With ADPT one has the company specific risk as well.
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