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

To: James F. Hopkins who wrote (11344)	1/28/1998 6:39:00 PM
From: Spots	Read Replies (1) \| Respond to of 12298

Don't let your powder get wet from the bow spray <ggg>.

To: James F. Hopkins who wrote (11344)	1/28/1998 7:38:00 PM
From: William T. Katz	Read Replies (2) \| Respond to of 12298

James, I just shorted at 12 1/8 today. I agree the short interest is high, but as a former shareholder around 30 that sold around 25, I find this company deserves to be shorted. They are losing money like crazy. Their own financial statement says they "believe" they have enough cash and credit line to cover the transition to MR, and their TFI heads are basically worth little anymore. This on top of a CEO that routinely misleads or is completely baffled by events in his own industry. Hard to believe this is the same company that projected continued strong demand for their TFI into mid-98. Gee. Their next quarter is estimated (probably optimistically) to be flat with this quarter. And if anything, we haven't seen the worst for APM yet because at least they sold some TFI this quarter. Why are you optimistic that the valuation is low for this company or that there will be a turn-around in the next 6 months? The eps now is totally useless since the earnings for this company are zero or negative for the surrounding 4 quarters. -Bill