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

To: Don Earl who wrote (10886)	12/9/1997 7:12:00 AM
From: T Bowl	Respond to of 12298

Don - << Even if FY 98 earning only came to 1.25 and figuring a PE around 15 to be low, it's still worth $19 per share and is under valued at current levels.>> PE of 15 is LOW? I disagree(of course). APM hasn't supported a 98 FPE of 15 ever I don't think. It's not what you want it to support, it's what the market is willing to support. In the last 5 months the 98FPE has struggled to get over 8. It was last at just over 6 before the latest round of cuts which came before the latest PR. todd

To: Don Earl who wrote (10886)	12/9/1997 10:05:00 AM
From: William T. Katz	Read Replies (1) \| Respond to of 12298

Don, You're not looking at my numbers. The $0.32 is the best case number using 29% gross margins which they will not meet. My revised numbers are $0.15 to $0.25, and I think the $0.15 is probably close to best case since the margins will be hurt by the shift in mix and decrease in volume production. That said, I'm closing 1/2 my shorts between $13 and $13 3/8. My long side inclination and need for the cash is winning out ... buying more QNTM. -Bill