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

To: Torben Noerup Nielsen who wrote (1886)	4/30/1998 9:35:00 PM
From: Fred Fahmy	Read Replies (1) \| Respond to of 5944

Torben, Most rational, well though out post I have read on this thread in a long time. Thanks. You have to keep in mind that much of the moaning and groaning here stems from ignorance and the desire to get rich quick while ignoring the bigger picture. Anyone who found today's earnings release surprising has not been following the company very closely or listening very well. Short term we might very well see selling pressure as some of the retail investors who bought on groundless hopes of an upside surprise bail. Longer term, it seems to me like management is on track to get more than their fair share of a growing pie. FF

To: Torben Noerup Nielsen who wrote (1886)	4/30/1998 10:23:00 PM
From: Starowl	Read Replies (3) \| Respond to of 5944

Thanks, Torben; same to Walter. I listened to the conference call and came away with much the same impression. The last half of FY98 forced management into some hard thinking and reassessment. Now, after two lackluster quarters (to be polite)--one a surprise; the most recent expected and foretold--the company is pulling itself together. The only real negative I heard is the forecast of continued pressure this quarter in the disk drive side of the business because of high inventories in the channel continuing into the second quarter. But it was noted that this would be partially offset by improvements in the host adaptor side. These could be conservative statements. It remains a profitable company and has not only restructured itself for the future but taken advantage of opportunities this last quarter, especially with Symbios. These aren't cosmetic changes. And this is the time to make them. Who knows how the market will react. I think some will see value in the stock. I do. Starowl

To: Torben Noerup Nielsen who wrote (1886)	5/1/1998 12:22:00 AM
From: Larry J.	Respond to of 5944

<<I kind of think that people who shell out for 50,000 share blocks - and I have been seeing a number of those cross the tape lately - are aware of this. (ADPT hitting the low end of the estimate). Those are institutional investors who do their due diligence and I sincerely doubt that they were caught off guard by the earnings release>> Torben, exactly! I had an opportunity to speak with Kevin Landis , manager of Interactive Investments (new name Firsthand Funds)Tech Value Fund (TVFQX) prior to his keynote speech at an Investors Forum last Saturday in Milpitas, CA. When I mentioned some of my favorite stocks and got to ADPT, he smiled and asked me why I liked it. I stated the obvious......beaten-up tech leader, value, new products, Symbios acquisition, blah, blah, blah. When I asked what he thought, he told me that his fund had 750,000 shares in it. (it was obvious he liked it a lot!) To put this in perspective, on Feb 28, 1998 the fund owned 50,000 shares or .57% of the fund and ranked #29 out of 33 holdings. ($231 mill. fund) By the end of March he had increased his ADPT holdings 14x to 740,000 shares or somewhere around 7.5% of the fund, and it ranked 4th! Landis is one of the pre-eminent technology stock pickers of the last several years (great fund too!) and his performance on his other large holdings is phenomenal. Look @ VTSS, PMCS, LEVL, AVNT, AMCC, AFCI since even the 2/28 period. Impressive returns! techfunds.com (Its now updated as of 3/30, but you can view previous months holdings) I believe that Mr. Landis had a pretty good clue what was in store before adding $14 million bucks or so of ADPT stock in March!! Now he may have sold in the past week, or may sell tomorrow which renders this all useless, however, assuming that he's not (selling)I continue to look forward to a good move ($30+) with a little patience (4-6 mo.) Probably a good time to initiate or add on weakness from any perceived "miss". All in my opinion only. Larry

To: Torben Noerup Nielsen who wrote (1886)	5/1/1998 11:14:00 AM
From: Doug	Read Replies (1) \| Respond to of 5944

Torben: The CC summary at #1884 indicates we may be out of the woods in late OCT. I believe those expectations are realistic especially as the take-over problems are yet to be resolved and PC Sales are expected to be flat to down. With another 2 earnings reports due by Oct , we could drift lower since there are no props in the near term. As you have been a valuable contributor to this thread, I would appreciate your prognosis for the next 2 Q's. Thx.