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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank -- Ignore unavailable to you. Want to Upgrade?

To: hotlinktuna who wrote (103427)	6/21/2000 1:58:00 PM
From: Luce Wildebeest	Respond to of 120523

ADPT looks like it could start to move. IT'S BAD ENOUGH TO BE A TECH COMPANY caught in the Nasdaq meltdown. But computer peripherals maker Adaptec made things worse in April by announcing that a Pentium III chip shortage would keep earnings flat for two quarters. Adaptec (Nasdaq: ADPT), which had been trading as high as $63 in January, now is at $20. "Wall Street just slammed the stock," says Timothy Curro, manager of hedge fund Value Holdings. Eventually, he says, this overreaction will be corrected for the company, a leading developer of hardware that allows network servers to store and transfer data. With revenues growing at a healthy 20%, Adaptec has a lot of strengths. Customers like Hewlett-Packard and IBM account for 50% of sales ($811 million for the fiscal year that ended in March). For a tech stock, the trailing P/E of 12 looks awfully cheap. --Michael Freedman