Broadcom (BRCM) Message Board

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Technology Stocks : Broadcom (BRCM)

BRCM 54.67

0.0%

Feb 9 4:00 PM EST

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To: Doug B. who wrote (2200)	7/6/1999 5:37:00 PM
From: Andy Wall	of 6531

Doug, Even if this pattern has developed over recent quarters, i have a feeling market psycholgy is a bit different this time around. In the past BRCM could be seen by the masses as overpriced and of course earnings are always supposed to be the great equalizer for this. However i have followed this stock for a while and i believe this company has turned away from "firm foundation" fundamentals(where earnings matter and nervousness is present) into something of a "castle in the air" stock. I will not be arguing which theory is correct for this company, the market will do just that for itself but...I will argue that it is clear to see that the crowd has clearly built their hopes of a "castle in the air" on BRCM and that in such cases earnings rarely matter only the hopes, and hopes always come before the announcement. For this reason i would not bet on a correction this time around in the prior weeks. -Andy

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