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Technology Stocks : Seagate Technology -- Ignore unavailable to you. Want to Upgrade?

To: lam who wrote (5192)	7/9/1998 3:10:00 AM
From: Anthony Wong	Respond to of 7841

SEG mentioned in Dow Jones' Market Digest (July 08, 1998 8:31 PM) Disk Drives Disk-drive makers also got a boost Wednesday, as investors searched for value plays in the tech sector. Among the big movers in the group were SmartMoney picks Innovex (INVX) and Seagate Technology (SEG). 'People are looking for opportunities that seem to look like values,' says analyst Joel Pitt at Deutsche Morgan Grenfell. With the exception of Western Digital (WDC), disk-drive makers may have a more positive outlook as they start to report quarterly earnings, says Pitt, who doesn't expect any positive earnings surprises. "After hell, everything looks better," he says. Disk-drive makers may see a slight pickup in demand as PC inventories have been reduced, Pitt says. He cautions, however, that there is still a large amount of disk-drive inventories and competition is as fierce as ever. For example, the market share of the three leading makers - Seagate, Quantum Corp. (QNTM) and Western Digital - has dropped to 56% in the first quarter from 70% a year and a half ago, Pitt says.