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Technology Stocks : The New QLogic (ANCR)
QLGC 16.070.0%Aug 24 5:00 PM EST
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To: david james who wrote (3850)3/14/1997 12:12:00 PM
From: THOMAS GOODRICH   of 29386
 
I don't think Fibre Channel technology is in question here, but, the prudence of the Ancor management team. What just happened is admittedly pretty ugly and will cause many to think twice about buying or holding the stock. It's difficult to understand why the company would state no chargeoffs related to the Sequent cancellation would occur, then actually make this adjustment and most recently, concerns from auditors have surfaced as to the continued viability of the company. My concern at this juncture is the potential impact of the company's solvency in continuing aggressive R&D and marketing. Perhaps Kerry Lee would elaborate further on this issue. You can be assured FC is doing very well in the Far East and is expected to grow considerably this year and exponentially next year and beyond. Given the outlook for Fibre Channel is better than optimistic, I would recommend investors continue holding ANCR despite the near-term financial crisis the company is experiencing. Your track record of buying and selling ANCR I'm sure is better than the majority of us. Despite the carnage, I don't foresee Ancor down & out anytime soon unless of course, we are being mislead by management.

Tom Goodrich
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