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Technology Stocks : Disk Drive Sector Discussion Forum -- Ignore unavailable to you. Want to Upgrade?

To: shane forbes who wrote (3094)	4/27/1998 8:57:00 PM
From: shane forbes	Read Replies (1) \| Respond to of 9256

In the FWIW category from Briefing.com: ---- Western Digital reported a loss of $0.51, six cents wider than expected... Revenues dropped 24.5%... Stock had run up in advance of its number... Consequently negative surprise likely to result in some additional selling (stock off 3/4 on Monday) over the near-term... Especially if market tone continues to deteriorate... However, long-term outlook for company is improving... Management noted that is has finally begun to see small signs of improvement in both industry conditions and its desktop business... Support is in the 18-17 range, while the initial upside target is 25... PC stocks took a beating despite the good news from independent research companies regarding industry's worldwide growth rate in Q1 (10%-14%)... --- Shane.