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

To: Phillip C. Lee who wrote (17418)	8/29/1998 10:22:00 PM
From: Eric Yang	Respond to of 213173

What an ugly week. We gave back most of our gain for the month of August dropping 8 13/16 from the 43 closing high, which is a drop of 20.5%. Amazing considering that there were no negative news about Apple that could account for the drop. The market tanked and since AAPL has been outperforming the market recently it took a bigger haircut. I think the rally in the last month attracted a lot of new investors to AAPL and when the market crashed most of these weak holders cashed out. When the market is in the middle of a bloodbath, investors have a tendency to panic and toss aside earnings, PE. Our PE is now in the 17 range- a bargain by most standards if this market wasn't in such a turmoil. If the market mellows out on Monday, I will post my Q4 earnings estimate on MacEvolution. Have a nice weekend all. Eric