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

To: William Epstein who wrote (5677)	9/15/1998 3:50:00 PM
From: William Epstein	Respond to of 7841

Raptech; One thing about today that bothers me is that I haven't seen the stock go over 23. It seems capped at this level. It may mean nothing and then again, it may mean something but it bothers me. Based on what I have seen in the past it usually means the stock is going South for the time being. PHOTOMAN/Willaim Epstein

To: William Epstein who wrote (5677)	9/15/1998 8:18:00 PM
From: Raptech	Respond to of 7841

Photo: I am sure your Mother and I both like William better , but so be it. No need to apologize for being wrong. If you are truly in the stock market you are going to be wrong alot. or very very wealthy. I think the good new below helped the price today: I've been on the run all day but after I search around will get back to the thread with more: 03:59 AM ET 09/15/98 Seagate Asia sales intact despite crisis By Angela Tan SINGAPORE, Sept 15 (Reuters) - Disk drive maker Seagate Technology International's Asian revenue has not been affected much by Asia's financial crisis, thanks to robust sales in China, India and Taiwan, a senior company executive said on Tuesday. "Asia has not been a drag on the group's performance," Joel Stead, Seagate's Paris-based senior vice president of international sales told a news conference. "Inside Asia, there are some positive areas. China is strong; India is strong. Taiwan is very strong," he said. "All helping to offset some places in Southeast Asia." Asia contributes about 16-17 percent of the group's revenue. For the financial year ended July 3, 1998, Seagate, the world's largest disk drive maker with about 23 percent global market share, achieved a turnover of US$6.8 billion, down from $8.9 billion a year ago. Seagate, which had cut about 1,800 jobs in Singapore earlier this year as part of a global restructuring, has no plans to change its investment strategy in Singapore. "And we have absolutely no plans for any reduction in the staff size in Singapore," he said. Singapore makes Seagate's high-end disk drives. The group has, however, decided not to proceed with its $70 million Philippines read-write plant, which was supposed to start production this year. "We have decided not to continue with our operations in the Philippines," Stead said. "We believe our other facilities in Asia, particularly in Thailand and Malaysia, are sufficent to expand our operations." Stead expected the group's margins to improve due to greater efficencies after its restructuring and efforts to have closer relations with distributors and re-sellers. He said Seagate was trying to be more responsive to demand and be "the first or second out with a new product." On the outlook for the over-supplied disk drive market, Stead said it was too early to say if the market has turned around. "We have to get through September. Traditionally, by the end of September, the market would go into a shortage. But in 1997, that didn't happen. We have to wait and see," he said. The desk top market was also extremely competitive and "brutal in some areas," Stead said. The high-end market appeared more promising, with a firm growth. Stead said Seagate's high-end Cheetah 10,000 rpm drive, was performing above expectations. Stead said Seagate has managed to reduced its overall inventory level and has less than seven weeks stocks in Asia. Asked whether Malaysia's recent currency curbs would affect the group's plans, Stead said Seagate was cautious about Malaysia but there were no changes in its investment strategy or employment plans. "The concern is demand for the personal computer side in Malaysia over the last year has languished," Stead said. -- Singapore Newsroom 65-8703080, fax 65-7768112 -- Email: singapore.newsroom@reuters.com Rap