Lynch's book Beating the Street, 1993 by Simon & Schuster.
50K block trade last hour, plus many 10K share trades earlier in the day.
As regards my unwavering, unapologetic, EXTREME brand of bullishness, its based solely on the fundamentals.
Maxtor's deal was a deal to use KM, but with no contractual force to MAKE them do so, only that if they don't get certain volumes by 3/98, contract is broken. This deal is par for the weird disk drive industry, in which NO commitments are spelled out or enforced, but in which Maxtor didn't sign on after months of negotiations just to fiddle around with it. They are planning to market KM drives in 3Q, and have them on the market in the 4Q and show them at Comdex, which is in January each year, isn't it?
Look at the numbers! Why wouldn't they use it? it's been proven in the lab, been proven on the production line (HMT probably ran the test run, showing KM platters can be mass produced), and the economic #'s just scream for it to be fully used by the whole industry.
As far as my unremmitting bullishness, I'll have the last laugh, unless an earthquake swallows up Ampex's CA facilities, the rest of the industry stupidly ignores it, or the market melts down for 10 years. Otherwise, I see eps going up to close to the $10 mark in 4-6 years. So whether one bought at 7, or 8, or 9, or 10 will be of little relevance, provided the story works out as presently presented by AXC and every brokerage and stock newsletter following it. |
