Did you not read the "because I didn't" in my post?! Of course I was playing the devil's advocate. I'd hold on even if I believed the $2.50 was the reality coming (which I don't) because I believe there is an even greater revenue and earnings stream coming in FY2011.
As has been posted elsewhwere, facts are stubborn things and the market will ultimately catch up to the facts. Unfortunately, because of STX's recent abysmal track record, this time the facts will have to lead the market up the next leg rather than the market rising in anticipation of the facts as is more usually the case in the investment world (and was the case as STX moved off its bankruptcy fear low of $3 to the high single digits ahead of the corner having been obviously turned operationally).
OK, thanks....decent start to helping me understand what shorts are thinking (but I'm sure there is more). So even if $2.50 turns out to be reality (which it won't), what muliple would you put on $2.50 of EPS here?