Seagate Technology - Fundamentals Message Board

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Technology Stocks : Seagate Technology - Fundamentals

STX 283.21

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3:59 PM EST

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To: Robert Douglas who wrote (17)	11/8/1998 7:29:00 PM
From: Stitch	Read Replies (2) of 1989

Robert, A very fine post. <<My research leads me to believe that more consolidation needs to take place before the shrillness of competition is attenuated to the point where profitability will increase greatly. The rewards to the stockholder should this occur will be enormous, however, as profits and the multiple the market will place on these profits will dramatically expand.>> I agree and wish this process would accelerate. The most dissonant note in my DD symphony is that, so far, there has not been the consolidation that the biz needs to get to that "state of grace" you infer. At one point I absolutely believed that it would be an IBM/WDC deal. (I was convinced to the point of losing money on that one and my current short position on WDC is an attempt at revenge that may backfire<G>). At another moment this last year I could see a capitulation brewing on the part of one of the Korean cos. I thought. Ultimately the Hyundai IPO of Maxtor could well be called a capitulation, but the damn thing floated right back to the surface when tossed in. Go figure. To confound my thinking even further, a Taiwanese group has picked up the technology of defunct Integral and now has a company in San Jose quietly going about rebirthing a 3 inch drive for notebooks. Then tenacious Finis Conner comes along, and yep, here he goes again. Geeez Louise what attracts these guys to this maligned industry? In fact, what the hell are we doing here? <G> Imagine, an industry like this can even attract the attention of the world's great cynics such the likes of a Lawrence Kam. Best, Stitch

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