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

To: Jim Switz who wrote (4248)	1/8/1999 3:18:00 PM
From: Starowl	Read Replies (1) \| Respond to of 5944

Jim: Yup. Four suddenly awoke in the middle of the night and coincidentally decided their estimates were too low. But who lowered his/her estimate? The lone bandit who had predicted 21? What interests me is the consensus forecast for Q4--23. Seems conservative and that's OK but it would mean only a 10 percent increase. The high 26 would seem more reasonable. I suppose the analysts will come to their senses after the official earnings are released on 25 Jan (a Monday for a change). Whatever their accuracy, the estimates at least provide a guide to institutional thinking. Heck, even the CFOs with all their access to company data would have a struggle picking an EPS number several months away. Slight fall today on better-than-average volume. Here's what briefing.com had to say before the opening today: "Adaptec (ADPT) did better than we expected after announcing that it would handily beat street earnings estimates... Stock blew through our target of 23 to close at 24 7/8, up 5 5/16 or 27%... A little profit-taking early wouldn't be surprising, but stock likely to remain hot over next few months... Next target 28-30 range." Starowl