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

To: Alomex who wrote (15730)	7/16/1998 5:30:00 PM
From: Andrew Danielson	Read Replies (1) \| Respond to of 213177

<<The question is folks, will Apple continue its upward trend tomorrow on the strength of upgrades, or will it move down, on profit taking from the millions of shares bought around $30?>> We ended with surprising strength. The stock ran up to the 37 1/2-5/8 level multiple times through the day but always bounced back down. The fact that it ended right back up there again is a good sign that we'll see some further progress tomorrow. On the other hand, I think for now our days of multiple point gains are over. In addition, the lack of revenue growth this quarter means that short seller interest will likely remain high for the near term. Of course, next quarter, when we get that holy grail of significant revenue growth, the shorts will be fleeing like rats from a sinking ship, er, maybe that should be rising ship. :-) Andrew

To: Alomex who wrote (15730)	7/16/1998 7:42:00 PM
From: Bill Jackson	Respond to of 213177

Alomex, I suspect there are some shorters entering now for the month end slide will start soon, let alone a general market decline for August. Bill

To: Alomex who wrote (15730)	7/16/1998 9:20:00 PM
From: Phillip C. Lee	Read Replies (2) \| Respond to of 213177

Alomex, Today, NASDAQ broke 2000 level, a significant milestone in the stock history. Microsoft and Sun Micro beat the street estimates by a couple of cents. In after-hours trading, Microsoft retreated a fraction while Sun advanced a couple of dollars. It seems the upward trand will continue even on the options expiration day. Apple probably will break $38 barrier again tomorrow if overall tech stocks perform well led by Microsoft and Sun Micro. Hmmm, it is likely to reach $40 by the end of next week since the company's current quarter revenue will be significantly improved by iMac sales and such evdience is so clear. I think some shorts have covered theirs today and will be doing so as the price dips to some extent and hence the price will be bounced back sooner than anticipated. If I were one of them, I would be extremely scared at this price level along with today's huge volume. The similar heavy momentum should carry through at least another couple of days. Phil

To: Alomex who wrote (15730)	7/17/1998 2:18:00 AM
From: Richard Habib	Read Replies (1) \| Respond to of 213177

Alomex, while it's possible it will test new highs tomorrow I wouldn't be at all surprised to see it beat down near 35-36 at the close. Have a feeling the street will see 36 or so as the fair value based on the last earnings. Just seems to me they will refuse to credit Apple with the price it deserves based on what any reasonable person has to assume will be 2 very good upcoming qtrs (knock on wood). The analyst estimates for next qtr are very low although I suppose they may get around to updating next week or so. On the other hand we thought that last qtr and they never did. Conservatively, I still see it in the low 40's by Jan. Guess that isn't a whole lot of upside for people just now buying non-leveraged stock. I still have a decent Jan option position. Sold off some to pay for the rest and I think I'll continue to hold. It's possible it could spike to low 50's before year end and for me that upside far outweighs my limited downside. Bottom line, think we all have fairly limited downside, perhaps some dead money, but still based on what we all know, a chance for a pretty decent upside. Rich