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Technology Stocks : Seagate Technology
STX 258.21-1.7%4:00 PM EST
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To: grogger who wrote (7181)4/1/1999 8:30:00 AM
From: William Epstein  Read Replies (1) of 7841
 
Rob Grogg;

OK. That thought did occur to me. It has also occurred to me that with the exception of the restructuring charge nothing else has been announced. No earnings warning or announcement of plant closing. In fact, they have announced the opposite. They announced that they are going to increase capital spending during the next year or two. We have no evidence that earnings are not on track.

However, knowing this stock the way we do we also know that fundamental data means nothing in the shorter run, in and of, itself. It is often ignored or selectively used as a justification for price swings. My concern is where is the stock going now and when will it get there. An earnings surprise is always a possibility.
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