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

To: Brian Lempel who wrote (10855)	12/8/1997 7:30:00 PM
From: Jonathan Bird	Read Replies (1) \| Respond to of 12298

All I can say is that we will know who's right tomorrow. Indeed we will. With the current earnings estimates on APM I believe we are at fair value at around 15. We are at about 9 or so forward P/E. I have seen APM go as low as 7 with a much brighter outlook and under thriving industry conditions so I think this is reasonable. But if you refer to Bills COLD HARD NUMBERS, which I assume you can't dispute, you will realize that the current estimates are still much too high. Unless you feel that the market is in a position to pay a premium for APM in this climate. Jon Bird

To: Brian Lempel who wrote (10855)	12/8/1997 7:48:00 PM
From: Think4Yourself	Read Replies (2) \| Respond to of 12298

re: Shorts or Longs will bend the release to their liking. I respectfully disagree. When people's pocketbooks are on the line, they tend to be more receptive to facts. Just last Friday I was sure being long APM was the right thing to do. New facts were presented, and I re-evaluated. Now I'm quite confident being short is the correct strategy for me right now. I am VERY disturbed by this press release. No comments about INCOME, and no upper limits to revenue decreases. Take a look at earnings warnings by reputable companies and compare them to this one. You might be surprised/disturbed. The impoortant thing is that the arguments be based on FACTS. In this way everyone wins. I try to post supporting facts for any statement I make. If you see posts by me that seem emotional or ignore the facts, please point this out. Ken