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Technology Stocks : Apple Inc.

AAPL 258.33

-0.6%

3:59 PM EST

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To: Eric Yang who wrote (24949)	5/25/1999 11:32:00 AM
From: Mike Connolly	Read Replies (1) of 213182

Eric, the Apple press release indicated notes can be converted up until 6/1 -- implying that noteholders may already be converting shares as we speak? I wonder if this may be contributing to selling pressure we are currently seeing -- noteholders converting and immediately selling shares (at least those noteholders who hadn't already shorted). What do you think? Shorted shares of 18M indicates at the very least 4.6M shares (of the 22.6M to be converted) haven't been shorted -- probably higher, since not all of the existing shorts are likely to be noteholders.

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