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

To: Stitch who wrote (11628)	3/26/1998 6:43:00 AM
From: Robert T. Quasius	Read Replies (1) \| Respond to of 12298

To all: revised earnings estimate. This is from the analyst who turned out to be closest to being right during the recent quarters. This number doesn't look very good! APM: NATNBK MONT.SEC decreased estimate for fiscal year ending 09/98 from $-3.50 to $-4.36 on 03/24/98

To: Stitch who wrote (11628)	3/26/1998 10:04:00 AM
From: Dave Chanoux	Read Replies (1) \| Respond to of 12298

The 10Q released last July reported that MR qualifications were underway. No customers were identified. The statements from the company at that time were something like this: When our customers want MR we will have it for them. The clean rooms in Goleta have been converted to fabricate MR wafers. The challenge is in head assembly in Thailand. Making a few is relatively simple; making ten thousand good ones is very, very hard. I would guess that the time from qualification to volume shipment is 3 to 6 months. Recall that WDC announced their transition plan in December (I think it was December) for completion in the June Quarter. GMR is a future thing, don't count on any customers being ready for a year or two. Just my opinions. Regards, Dave Chanoux

To: Stitch who wrote (11628)	3/26/1998 3:48:00 PM
From: Bill Lin	Read Replies (1) \| Respond to of 12298

The quant column on thestreet.com described the backtested data that prices in industries rise in anticipation of earnings turnaround. If the earnings turnaround are not sustainable, they sell out before earnings do turnaround. if earnings growth are sustainable, then the rally pushes on (see banks). However, selloffs occur prior to earnings peaking. So...does APM have the right management to take it through the next earnings cycle 12 months from now? or is CC too stubborn minded and not flexible to industry/consumer needs? I get the feeling from reading RDRT reports that they are stubborn management. Same with KMAG for not going to IVAC equipment. HMTT is too young for me to get a handle on...but they look like flexible managers caught in huge revenue growthrates. I gag at the thought of looking to SEG and IBM for managemet leadership for the next cycle. However, they look like they have the funds for cap ex reinvestment... BL