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

To: Mark who wrote (1456)	3/28/1998 8:58:00 PM
From: Camron Rafizadeh	Read Replies (1) \| Respond to of 5944

Mark, Just buy , this is your last chance!! Camron

To: Mark who wrote (1456)	3/29/1998 1:03:00 AM
From: N. David Lessani	Respond to of 5944

Concerning PE TO Mark: I don't know what is the right PE for tech stocks, but to answer your question as to what pe I would give to a company with DECLING EARNING, I should remind you that, there are several high pe tech and internet stocks with NO EARNING whatsoever. That is why I ask are we too hard on ADPT. May be we should be hard on management if they are crook or incompetent. Best Regards,

To: Mark who wrote (1456)	3/29/1998 7:57:00 AM
From: Fred Fahmy	Respond to of 5944

Mark, <Furthermore, what PER would you reasonably give to a company with declining earnings ?> The key question is 'are the declining earnings a short term phenomena or the beginning of a long term trend?'. When people compare P/E's to earnings growth rates (i.e. PEG), the earnings growth rate used is usually a 5 year projection not a snapshot in time (i.e. one year vs. the next). For the record, I established a position on Friday. I Still see some downside risk but from my perspective the long term risk/reward ratio going forward looks very favorable. FF