Applied Micro Circuits Corp (AMCC) Message Board

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Technology Stocks : Applied Micro Circuits Corp (AMCC)

AMCC 8.450

0.0%

Feb 3 4:00 PM EST

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To: Guy Gordon who wrote (369)	2/25/2000 2:44:00 PM
From: SJS	Read Replies (1) of 1805

Here it is dudes/dudettes: __________________________ Applied Micro Circuits (AMCC, $245 1/4, Strong Buy, Cap $13.2B) Raising PT to $300 Based on Very Strong March Quarter and New OC-192 Products. FY00: $0.76; FY01: $1.40; FY02: $1.90 ú We are raising our estimates and increasing our price target to $300 on AMCC based off of continued strong data points from customers and conversations with management. ú We believe that AMCC is experiencing the highest bookings rate in its history (January was particularly strong). We are increasing our sequential revenue growth for FY4Q01 (March) to 16% ($53 MM) from 14% ($51.5 MM), but maintain our $0.28 EPS estimate for the quarter. ú However we are raising our FY2001 and CY2001 EPS estimates to $1.40 and $1.75, respectively (based off of revenue of $269 MM and $361 MM). This is due to faster growth assumptions on the company?s core communications business from 72% to 77%. ú Our $300 price targeted is based on a discounted cash flow that reflects the high returns on invested equipment and anticipated growth from current product

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