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Technology Stocks : Adaptec (ADPT) -- Ignore unavailable to you. Want to Upgrade?

To: Starowl who wrote (4217)	1/6/1999 10:10:00 PM
From: Charlie Smith	Read Replies (2) \| Respond to of 5944

Starowl: It was just a bad dream, wasn't it? After the close on January 8, 1998, the company said they would miss their number. The stock fell ~13 points to $20.625 the following day. All we need now is a 14 point move over the next three days to erase this entire ghastly episode! (Not counting opportunity cost - which this year has been huge.) The symmetry is striking. At least management now has things moving in the right direction. Charlie

To: Starowl who wrote (4217)	1/6/1999 10:45:00 PM
From: Jim Switz	Read Replies (2) \| Respond to of 5944

SO: how's this for speculation . . . suppose you were an institutional investor with a stake in QLGC and/or LSI, and wanted to stay in the I/O arena, anticipating a recovery. Now, what would you be thinking after a few months of outrageous runup in QLGC and now an ADPT positive preannouncement while its price is still beaten down? Would you be thinking about cashing in QLGC profits and picking up some cheap ADPT? I would. Be interesting to see how the two stocks do relative to each other tomorrow, and the proportional volumes of each. It's sure a lot more fun to speculate about upside than downside, on the night before . . . . pretty much the mirror image of exactly one year ago. I'm not even going to get started thinking about potential analyst earnings revisions; don't want to get too giddy, especially after a year of disappointments. Also, once earnings are released on the 25th, I'm interested in seeing the share count (I'm guessing 98 million). The buyback reduction of shares outstanding probably added a few cents/share to the nice earnings number. Remember Q1, ending June? They did $181M revenue and made $0.10/share (before $0.78/share writeoff losses). So they'll at least double the earnings on about the same revenue - says a lot for the cost-reduction efforts, eh?