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

To: Alomex who wrote (17949)	9/14/1998 5:24:00 PM
From: Zen Dollar Round	Read Replies (2) \| Respond to of 213182

Apple closed down 1.16% on a day the Nasdaq index moved up 1.47%. The drop looked to me like the wall street boyz selling on some forthcoming not so good news. Any ideas what could that be? I think perhaps it is simply the MMs trying to pin AAPL under a strike price during options expiration week, in this case 37 1/2. It didn't work so well last month, as news of iMac sales was released, but they usually get AAPL to drop a few points during expiry week. I expect AAPL will start forging ahead again in the week prior to and the week of earnings in October, barring major news in the meantime.

To: Alomex who wrote (17949)	9/14/1998 8:27:00 PM
From: Andrew Danielson	Respond to of 213182

<<Any ideas what could that be? >> I would note that CPQ as well underperformed today. Up 1/4 point vs. GTW's nearly three points. GTW was undervalued relative to CPQ and AAPL going into today, having been beaten down more during the down market. An outperformance was in order. However, they did more than just outperform. GTW blew past AAPL and CPQ in terms of forward-looking PE. AAPL and CPQ remain close to on another at 18.23 and 18.46 respectively, while GTW went from 17.96 to 19.00 in one day. CPQ's underperformance indicates to me that AAPL's action was not news-related. GTW was perceived as a bargain going into today, and investors (as usual) got a little irrationally exuberant. If I'm right, and it's not news related, then GTW should underperform relative to AAPL and CPQ tomorrow while they in turn outperform the market as a whole. In my mind, another down day for AAPL on an up market day will confirm that something is amiss. Until then, I'm not going to jump to any conclusions. Andrew