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Technology Stocks : Applied Magnetics Corp -- Ignore unavailable to you. Want to Upgrade?

To: Richard Haugland who wrote (10111)	11/1/1997 2:13:00 PM
From: Robert T. Quasius	Respond to of 12298

What an adjustment. A current FY P/E of only about 10, and a forward P/E of only about 6. I think that the stock is still undervalued relative to earnings and growth prospects. What is hanging over the stock now is the ramping up of both the picoslider form TFI and of course MR. Notice though that the forward earnings estimate is actually pretty good. I think that APM is in for a couple of quarters of stagnant stock price, then should start to take off late next year. I am staying long, but trimming my holdings for the moment because I bought some stocks with better short term prospects.