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Technology Stocks : Adaptec (ADPT) -- Ignore unavailable to you. Want to Upgrade?

To: Doug who wrote (1175)	3/13/1998 12:56:00 PM
From: Charlie Smith	Read Replies (1) \| Respond to of 5944

Doug: <<Any particular reason why we are in this drift mode whilst other ships in the fairway are heading further North?>> Try dozens of "portfolio managers" who don't have the spine to face clients with a stock that is down 35% for the quarter when the S&P is up more than 10 percent. They sell regardless of the price. It's called window dressing. Charlie

To: Doug who wrote (1175)	3/16/1998 10:27:00 AM
From: Tom M	Read Replies (3) \| Respond to of 5944

Doug/all, these are some of my concerns with ADPT: comments/discussion welcome: 1) Seems to me the street sells the acquirer in a big merger until they show them the money. Most acquirers I've noticed set new lows, then stay flat for at least 6 months. Some recent examples are 3COM/USRX, Boeing/MCD, and Compaq/DEC. I'd appreciate recent exceptions pointed out. 2) Didn't ADPT pay twice the previous purchase price for Symbios? Are we sure that's such a fire sale? 3) A monthly H/W S/W sales catalog I get called Tiger now has Adpatec MISSING from its vendor index. They now carry a full line of SCSI adapters from SIIG labeled "your fast affordable upgrade solution". I can't even remember not seeing Adaptec for SCSI offerings in recent years. 4) Regarding SCSI management software, my April issue of Emedia (formerly CD-ROM pro) magazine, has a glowing review of Micro Design International's SCSI Express 3.0 for Windows. They mention "an ever-wider range of hardware support makes SCSI Express a fearsome contender in the enterprise storage market". 5) The March 1 issue of Solutions Integrator had an article on the Compaq/Digital/Tandem merger's ramifications as a storage powerhouse. They state "The combined component buying power may well shift power from the component suppliers such as Intel, Adaptec, Seagate, and others to the server supplier. Hopefully your margins won't shrink." The recent trend towards DELL's build to order methodology with minimum inventory also tends to reinforce the trend of who will be in control IMO. 6) I'm also concerned about the trend towards sub $1000 PC's, and even more about sub $1000 servers like DEC announced last week. One has to wonder if ADPT can keep up the high margins. By the way the street cut 60% off ADPT's previous highs without any signs of recovery, maybe they have more information than we do. 7) The slew of lawsuits don't help. I've held ADPT off and on over a few years, always long. With all the issues now surrounding ADPT, this is the first time I'm concerned if I'm gambling. comments/discussion welcome, Tom

To: Doug who wrote (1175)	3/16/1998 11:17:00 AM
From: The Philosopher	Respond to of 5944

<<Any particular reason why we are in this drift mode whilst other ships in the fairway are heading further North.?>> Clip from news on Reuters today: "The stock market's upward momentum will likely continue with the aid of more inflows from mutual funds trying to improve their performance before the quarter end, analysts said. " Adpt is heavily held by funds. Some may be moving it out to improve their quarterly picture, not having the patience we do to wait for it to recover.