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

To: Zakrosian who wrote (11065)	12/17/1997 11:12:00 PM
From: LK2	Respond to of 12298

RE APM guidance. Everyone forms their own opinions. But for what it's worth, it looks to me like APM does guide Wall Street in private, with worthwhile information. And APM does guide individual investors that call the company (and post on SI), with worthless information. I bought APM stock because I believed the bullish argument that Crisman was doing a great job making a lot of money for the company, and that the outlook for APM was much better than the stock price reflected. I was aware that there could be problems with the transition to MR. But the theory was that as long as thin film was such a money maker, it made sense to stick to a proven technology. There were no hints from Crisman about yield problems until the last earnings report (yield problems were used to explain the lower than expected earnings for the last quarter). And there were no hints from Crisman about the cancellation of any orders from WDC, even after WDC publicly reported it was dropping its portable line, and said it was dropping the 1.7 GB TFI early, until APM made a public announcement on Dec 8, well after WDC reported what was happening. I lost a nice chunk of money on APM. I lost even more on QNTM and WDC, but I think QNTM and WDC were a lot more honest and open about what was going on. Whether any of us make money or lose money, there's a lot of luck involved. But I think Crisman was a misleading source of information to anybody who listened to him on these threads. I think he was a much better source of information to Wall Street. Just my opinion.