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

To: Donald Isenhower who wrote (11205)	1/13/1998 5:32:00 PM
From: Robert T. Quasius	Read Replies (2) \| Respond to of 12298

The stock movement was surprisingly restrained today, given the earnings disappointment. I feared an immediate drop to $7-8. It looks like the Street had already figured that in. I'm not so sure about APM in single digits, although it dipped below $10 briefly today. Long term, this stock WILL recover, but only after 2-3 quarters. One interesting note: the fully diluted shares is equal to the undiluted, which to me says that all of the convertibles have been converted. Any short interest that's out there now is "naked" short interest that may scurry to cover when the earnings start to improve.