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Technology Stocks : LSI Corporation

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To: Beachbumm who wrote (18850)	6/13/1999 4:19:00 PM
From: patrick tang	Read Replies (1) of 25814

Re: Much will hinge I believe on LSI demonstrating that the revs can be turned into hard earnings. Still waiting for that operating margin to be where it needs to be. Yes, at this point, LSI is still a 'values' play. Of course, not as much as when it was $20/$25, but still can count as that. I believe that after Q2 earnings on track and cc forwarding looking into good prospects for the future, then it will change to 'growth stock' one more time with the valuation to match. All the IP semi guys are at record multiples now because people are betting that recovery together with the barn-burning earning growth is on the way. From every angle, that seems to be the way it's shaping up. No more excess foundry capacity, pricing recovery, lead time push out, all IP semis going to meet Q2 projections.... That's how I am betting anyway. Where's floor if things do not really pan out? $2.00 forward looking earnings X perhaps 15x to 20x PE for a solid but non-sexy company puts it at $30 to $40, I believe. Where's the top? I think $70/share and up is easily reachable within one year. patrick

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