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Technology Stocks : Disk Drive Sector Discussion Forum -- Ignore unavailable to you. Want to Upgrade?

To: Z Analyzer who wrote (5048)	12/2/1998 5:09:00 AM
From: LK2	Read Replies (1) \| Respond to of 9256

WDC leads disk drive stocks higher. Hot air, random walk, brownian movement, incisive analysis combine to levitate share prices higher...... For Personal Use Only >>>>>>>>>>>>>>>>>>>>>>>> December 1, 1998 Western Digital Up 21% As CEO Says Outlook Improving Dow Jones Newswires By Christopher Grimes NEW YORK (Dow Jones)--Western Digital Corp. (WDC) shares rose 25% after the company's chairman and chief executive said demand is improving for its disk drives and that it is beginning to gain market share with major PC companies. Speaking at the Credit Suisse First Boston Technology Conference in Scottsdale, Ariz., Western Digital chief Chuck Haggerty said the company has also improved the time it takes to get its products into the market, said spokesman Robert Blair. Blair said Haggerty also told investors that it will introduce desktop disk drives with International Business Machines Corp.'s (IBM) head components into the market sooner than expected. The new drives, featuring IBM's giant magneto-resistive heads, should hit the market in early 1999 rather than sometime in the first half of 1999. Western Digital agreed in May to use IBM's industry-leading disk drive heads. Blair said using IBM's technology should improve Western Digital's market share and further speed the time it takes to get new drives into the market. Western Digital has posted three consecutive losses after falling behind on magneto-resistive heads. The head is possibly the most crucial part of the disk drive, since it reads and writes information on the disk. But it hasn't been alone. Rivals Seagate Technology Inc. (SEG) and Quantum Corp. (QNTM) have also been hurt by a PC disk drive inventory glut and intense pricing pressure. Furthermore, a resurgent Maxtor Corp. (MXTR) has taken share at the expense of its larger rivals. Western Digital Shares were recently trading higher by 3 3/4, or 28.7%, to 16 13/16 on volume of 5.4 million shares. Seagate shares rose 2 3/8, or 8.1%, to 31 7/8, Quantum rose 1 7/16, or 6.5%, to 23 9/16, and Maxtor rose 1 15/16, or 14%, to 15 3/4. - Christopher Grimes; 201-938-5253 <<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<