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

To: Hungry Investor who wrote (7123)	3/23/1999 11:46:00 AM
From: William Epstein	Read Replies (1) \| Respond to of 7841

Scott Perry; Thanks, Scott. You know, I was thinking about relative valuations during the weekend and I turned up some interesting comparisons. For instance, CSCO sells for 100-110 and has estimated earnings of $1.47 this year and $1.83 next. SEG sells for 27-32 and estimated earnings of $1.55 and $2.23 next year. Does that make sense? In this kind of environment any analyst can deliver any kind of bullshit and people will believe it. There is no connection to reality or fundamentals. They have been talking down the high techs. without a shred of real evidence that the tech. sector is doing anything but performing well. We have one small comment by a SEG exec. against all of the earnings estimates and all of the evidence that SEG is performing well in recovery and that was only about one part of their business. Yet the stock collapses for no reason that I can see. The restructuring charge against earnings comes out to about .19 per share for the quarter. Not a disaster. You were astute to pick up on the volume report. I noticed that from 9:30 -10:00 the stock did 432,000 shares but at 30-32 it took until 11:30-12:00 to do that much volume. Obviously 30-32 is a dead zone. No one but day traders are interested in the stock at that price. It was exactly the same just before New Year's. The stock was sitting at 30 1/8 just before the Jan. rally, volume about 800,000 shares. Someone is accumulating at these prices and I think we will see more of it this week. Next month they will pump it up. Current price begs the question: is it price stimulating accumulation or accumulation bringing down price? I believe it is the second. When accumulation is completed then we will see the price rise dramatically. I hope, soon. In any case my charts show me a price of 50-53 if the stock peaks in Oct. or 59-62 if it peaks next Jan-Feb. Take your pick in this guessing game. Bill/PHOTOMAN