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Technology Stocks : Western Digital (WDC)

WDC 282.58

+8.6%

Feb 6 9:30 AM EST

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To: CPAMarty who wrote (9848)	10/11/1998 8:45:00 PM
From: AC Flyer	of 11057

I'm not a WDC short. The Yahoo long makes a reasonable case for buying WDC at 5 bucks. My experience with WDC results from buying it for $3 at the bottom of the last cycle in '92. It's important to recognize that WDC is a deeply cyclical commodity tech. company. If WDC follows the script this time around, it will trade at cash value for a while - probably $5 to $6 per share - and then slowly begin to trade up over a one to two year period. WDC is unlikely to see $20 again until 2000 or 2001. The wild card this time around is global tech. overcapacity and the collapse in PC pricing. Any tech. company whose business model is "one per PC" is going to have significant difficulties.

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