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Technology Stocks : Disk Drive Sector Discussion Forum -- Ignore unavailable to you. Want to Upgrade?

To: Stitch who wrote (8172)	3/27/2000 10:28:00 AM
From: Sam	Read Replies (1) \| Respond to of 9256

Stitch, Thanks for posting the MS comments. It is just amazing to me that, on the one hand, we have Barton Biggs (who is, as most of you know, one of the "biggs" at MS) telling us on Wall Street Week just a couple of days ago that many valuations are absurd in the market place today, and that Mr. Greenspan has now "targetted" the Naz highflyers (his word, not mine), and on the other hand, we have Ms. Munson saying that HDD which trades at about, what, a PSR of around .2 being rated "neutral", while Brocade is "strong buy" with its revenue estimate for the coming quarter at about $50 million and its market cap over $18 billion. OT---> A couple of random comments on TV performances over the weekend: 1. I don't know if anyone caught Mr. Biggs' performance or not, but he was amusing. Ruykeyser introduced him as one of the stalwarts of Wall Street, of course, and then opened his conversation with him by asking him about being bearish over the past few years. Biggs reddened noticeably, and mumbled something like yes he is bearish, but it hasn't been for years. Wrong, Mr. Biggs, it has been for years. 2. We also had Trent Lott tell Tim Russert with a straight face that people are getting hurt by the high gasoline prices, we have to do something like roll back the 18 cent/gallon federal tax on gas. Meanwhile, back at the Fed ranch, Mr. Greenspan is saying that the economy is growing too quickly, we need to raise interest rates. Tim Russert, journalist that he is, didn't question the good Senator about this, nor did he ask him why on earth he is supporting Mr. Bush's trillion dollar tax cut at a time of prosperity like this (which Lott said that he "fully" supports). Fascinating.

To: Stitch who wrote (8172)	3/27/2000 11:23:00 PM
From: Sarmad Y. Hermiz	Read Replies (1) \| Respond to of 9256

>> We suspect that there continues to be excess supply in the disk drive business and expect that there may be some more pricing pressure before the industry environment improves. << Are these people for real ? How can there be any excess supply in disk manufacturing capacity ? After all the unit growth and capacity cuts, plant closings and staff layoffs ? -Sarmad