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Technology Stocks : LSI Corporation
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To: Howard Feinstein who wrote (17143)2/23/1999 11:13:00 AM
From: Ram Seetharaman   of 25814
 
Today Micron got upgraded to a "buy" and is some sort of a bellwether chip stock since it is huge. That is why even sleepers like VLSI are up and so goes LSI. To put it differently I wouldn't short LSI now, since the down side is minimal (maybe a short lived $ 25-26 low), but a $ 30 LSI is inevitable soon. BancBoston Robertson Stephens still has a $ 35 price target for 1999. I think 2000 will be even better. The bad times are over for LSI, unless they do something really stupid. Also BancBoston Robertson Stephens had a tech conference yesterday and lot of chip stocks got new exposure. LSI will not take off like the amazons and ebays since the chip business is too well defined and predictable. A good merger or acquisition, however can spark LSI in the short term. I can't think of anyone who would buy LSI in the near term though. Several weeks ago a VLSI/LSI merger was rumored, but it died off!
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