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Technology Stocks : Apple Inc.

AAPL 273.30

-0.3%

2:10 PM EST

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To: Jean-Robert Grenier who wrote (23697)	3/29/1999 2:43:00 PM
From: Richard Habib	Read Replies (1) of 213176

Jean-Robert, tough for me to give advice. I will tell you that my investment style is to use take relatively large option positions in the middle-high 5 figures. That allows me to make in absolute terms a decent living from relatively modest point moves. I like Apple because in my mind it's fairly predictable. With that in mind I've established a position mainly in the 35-32 range. I tend to structure my investments on conservative estimates so I'm looking for Apple to reach the mid 40's perhaps by July MacWorld and earnings. Despite Apples good unit and EPS growth, it's top line revenue growth is poor compared to GTW and DELL (But better than MU, CPQ, IBM, SGI, etc. computer divisions). Because of the slow top-line growth and good unit growth, Apple is being lumped in with the other boxmakers suffering from declining ASPs and so slowing top-line growth. The bottom line is I would be happy to see a pop on this earnings but I wouldn't bet my life on it. Because I use options I'm obviously a trader so I'll have to get out of the majority of my position. Whether I hold beyond July is something I have yet to determine. Rich

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