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

To: Deepak NAik who wrote (2013)	5/3/1998 5:22:00 PM
From: Mark Brophy	Respond to of 5944

I have no price target. Investors don't know much about Symbios because it has been hidden behind the accounting statements of the Korean parent, Hyundai. So, the market has assumed the worst and priced Adaptec accordingly. I live down the street from Symbios and play tennis with their engineers, so I know otherwise. Adaptec has had high margins from SCSI due to their patents. Those days are gone forever and the executives were right to sell their shares at 50 last year. In addition, the falling prices of IDE and DRAM have reduced the need for SCSI. The company will make up for the loss with new Fibre Channel, 1394, and I2O products. But, it will take several years to return to 50.