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Non-Tech : Any info about Iomega (IOM)? -- Ignore unavailable to you. Want to Upgrade?

To: Mogie who wrote (51628)	3/31/1998 12:59:00 PM
From: RetiredNow	Read Replies (3) \| Respond to of 58324

For all you IOM stalwarts, here's some disturbing news about IOM (I bolded things you should focus on): Mar 31, 1998 HMT Technology Corp. (Nasdaq:HMTT - news) Phone: 510-490-3100 Website: hmtt.com Price (3/30/98): $13 1/4 HOW DID IT FIND TROUBLE? HMT Technology has driven a curious road to trouble. A major independent manufacturer of thin-film media used in Iomega's (NYSE:IOM - news) Jaz drive and other computer disk drives, the company has seen its stock plunge from a mid-October high of $20 5/8. And that despite reporting a terrific December quarter in-line with projections. Investors just seem convinced that the industry's troubles will eventually hurt HMT. ... Smith Barney reiterated its "buy" rating in mid-February and Deutsche Morgan Grenfell initiated coverage a month later with a "buy" rating. Still, HMT has been pummeled and has remained flat partly due to its exposure to TROUBLES AT IOMEGA, which is believed to have accounted for 30% of HMT's sales in the third quarter. HMT makes the media for Iomega's 1 gigabyte Jaz disks (and the new 2 gig Jaz), which has come under competitive pressure of late from SyQuest's (Nasdaq:SYQT - news) SparQ drive. TheStreet's Herb Greenberg recently reiterated his argument from January that HMT SHIPPED 8 MILLION JAZ DISKS DURING THE FIRST 9 MONTHS OF FY98, WITH ABOUT 3 MILLION SAID TO BE PILED UP IN IOMEGA'S INVENTORIES. Short term, that could pose a problem for HMT. Any comments?