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Technology Stocks : WDC/Sandisk Corporation -- Ignore unavailable to you. Want to Upgrade?

To: Jerome Wittamer who wrote (3333)	6/19/1998 10:54:00 AM
From: Jim Cash	Respond to of 60323

If SNDK breaks 12 1/8 then we are looking at 8.

To: Jerome Wittamer who wrote (3333)	6/19/1998 11:09:00 AM
From: limtex	Respond to of 60323

Jerome - Once we have called the SEC to let them do their job we can reflect as I have and as no doubt the analysts are on the astonishing statement. Eli's statement is quite frankly astounding. It removes all hope. Everything under presusre and overoptimistically estimated - Unit sales - unit sales prices - costs of sales - delivery to the stores of new CF compatible cameras - Japanese market - Japan retail system that the company has put in place - number of cameras that don't use CF etc AND no orders AND we don't have a much better idea about Q3. I've never heard of a CEO issuing a statement like this unless he wanted to call it a day and wind up the company and divi up the net assets. On top of that lot he says he's confident the current situation doesn't does not represent a lasting change to our long term business fundamentals. He's got low orders and can't tell us what Q3 is going to look like, a matter of three months, but he's "confident .....long term business fundamentals." This man is bordering on being nuts. Everything else would have been sustainable but when he goes off to say that we've got low orders and things are effectively getting worse he is talking about sending the P/E ratio into low single fugures or net asset value minus a discount. Today may not be so bad - only a drop of $3 and change - but just wait until the analysts start to pick over this.