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Politics : Ask Michael Burke

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To: SFW who wrote (43363)	1/14/1999 12:33:00 PM
From: David Semoreson	Read Replies (3) of 132070

>>Apple is a specific case in support of the point that you make. Apparently(per Morgan Stanley analyst) they stuffed the channel with about 200,000 (out of a total of 560,000) iMacs that Apple shipped in the last quarter. Best Buy and compUSA had to cut prices and take a loss on these "Hot" computers. << With all due respect, I think the Morgan Stanley analyst doesn't know what he is talking about. Generally "stuffing" means the channel has excess supply, which is clearly NOT the case with AAPL. However they managed to get BB to buy more (if true), it has not resulted in a stuffed channel. AAPL ended the quarter with only 2 days supply and beat estimates again, and IMHO are the only major tech that is NOT overvalued. And the reason they remain relatively low is belief that they are "doomed" based on this kind of generalized, poor analysis. ** David

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