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

To: Spots who wrote (11247)	1/16/1998 9:58:00 PM
From: Dave Chanoux	Read Replies (1) \| Respond to of 12298

I can give you this reaction after receiving it in the mail within the last two days and giving it a quick once-over. 1. Spartan - printed in black & white on thin paper. Didn't waste any money on flashy pictures, glossy paper, etc. Good. 2. You can get all but two pages on EDGAR. Book 1 is the 10K for the year ending 9/27/97 with a front and back cover. The inside front cover is the Chairman's letter to shareholders and the inside back cover is the list of officers and locations, transfer agents, auditors, etc. Book 2 is the proxy statement for the annual meeting. 3. The annual meeting is on a friday afternoon at 4 PM. That should tell you something. 4. The Chairman's letter points out that FY 98 will be a transition year to MR technology, (GMR not mentioned in the letter) and that after the transition to MR is completed in 1998, the company should exit the year as a stronger, more formidable competitor than ever. 5. There were other claims in the Chairman's letter which my fingers will not allow me to type. Regards, Dave Chanoux

To: Spots who wrote (11247)	1/16/1998 10:55:00 PM
From: Jonathan Bird	Read Replies (2) \| Respond to of 12298

Specifically, the company expects to have converted substantially to MR technology with a strong position in GMR technology within 2-6 months I haven't read the report. But I do know that in 6 months APM's only remaining TFI customer will not be buying TFI, so like it or not, they WILL be substantially into MR. I'm not sure what having a "strong position in GMR" would mean. They have that IBM guy so they should be OK technology wise, but I don't expect anyone but IBM to actually ship GMR in '98, least of all APM. RDRT is clearly ahead of APM. Jon Bird