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Technology Stocks : Broadcom (BRCM)

BRCM 54.67

0.0%

Feb 9 4:00 PM EST

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To: Black-Scholes who wrote (1892)	6/15/1999 1:18:00 PM
From: Doughboy	of 6531

Merrill Lynch's Osha is trying to make a name for himself. He obviously does not have the influence of his predecessor Kurlak on Intel and AMD, so he's trying to establish himself in the communications chip niche. He's been pounding the table on BRCM for months, and so far it's worked out for him. IMO, though, there doesn't appear to be any rational basis for his target prices. He bases the price target on 15x Y2000 revenue. Why 15? Because that's what PMC-Sierra trades at. What backward logic: because PMCS trades at an exhorbitant multiple of revenue, all communications chip companies should follow their lead. I'm totally long BRCM, but this kind of analyst cheerleading is not something we need. Doughboy.

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