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Technology Stocks : Vitesse Semiconductor

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To: Zoran who wrote (537)	4/10/1997 7:14:00 PM
From: Clint E.	of 4710

Zoran, Let me first say that I am negatively biased toward VTSS since I bought April 35 puts and shorted it today. But, since VTSS is a momentum stock and it failed to show increasing sequential sales, revenue, and EPS numbers it is destined to fall tomorrow. Given market condition, beating est. by 1c is defenitely not good enough. Look at these numbers: -------------------------Q396------Q496---------Q197--------Q297 Sales----------------------17.3M-----19.1M-------21.8M--------24.6M Sequential increase--------------->10.4%------->14.3%------->12.5% Net Income------------------3.8M-------4.5M--------6M----------7.8M Sequential increase----------------->19%------->33%--------->29.6% EPS-------------------------12c-------14c---------17c----------20c Sequential Increase----------------->16.6%------>21%--------->17.7% Last Qtr., they reported increasing seq. #s and the stock rallied strongly before and after earnings(from mid 40s to mid 50s). I am surprised by those investors who expect another run up in the stock, given what has been happening to SEG/PAIR/ALTR/AMD/..... Momentum investing is dead for now. Clint

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