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 Technology Stocks : Apple Inc.

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To: WebDrone who wrote (14814)7/1/1998 11:36:00 AM
From: Eric YangRead Replies (1) of 153996
 
"Can anyone explain to me what this sale means? I know that Tim Cook is probably shifting manufacturing to increase overall efficiency of world wide production... but how? Does anyone have insight on what this means?"

According to a Reuters story, Natsteel Electronics (NEL) had signed a letter of intent to buy printed circuit board assembly manufacturing and test equipment and spare parts from Apple's manufacturing site in Cork for Singapore $20 million, which is equivalent to 11.9 million US dollars. For weeks there have been talks that Apple intends to discontinue operation of its PCB division within Apple's Cork Ireland facility. If this purchasing agreement is carried out, it would be a clear indication that Apple's intent to close down the division has been finalized. Again, only the PCB division is involved...and it sounds like Apple is only selling the equipment. Apple obviously wants to shut that division down. It's important to note that the deal isn't finalized yet.

"Who will make my powerbook? Inquiring minds want to know!"

It will still be made in Cork Ireland.

Eric

PS anyone notice that Apple's stake in ARM holding and General Magic have both been doing extremely well lately? Both stocks have soared in recent months.
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