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Technology Stocks : PMC-Sierra (PMCS)
PMCS 11.650.0%Jan 25 4:00 PM EST
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To: Bulldozer who wrote (2655)8/14/1999 6:02:00 AM
From: Trader Dave  Read Replies (1) of 3818
 
Hey, Mr. Cheerleader.

As you know, the stock price is only a partial reflection of the company's execution. It's hard to say what's an appropriate value for the company. I think part of the run up is due to an institutional exodus from the internuts and a realization that playing the key infrastructure providers is a place to play. (And possibly a short squeeze.)

Yes, the company should be congratulated for their solid execution and the vision from last summer to increase their R&D expenditures, but, this frenzy isn't confined to the best of the best in this sector.

There've been run ups in many communications companies with much less substance than pmcs recently.

It's a struggle, but how high is too high for a company of this quality?

To me the valuation is priced for "perfection." To sustain these levels we need continued terrific execution and a benign interest rate and market environment.

I'd bet there are a lot of mindless lemmings jumping on board now that don't even know what they own. $24 in october (pre split) was preposterously low, but why is this valuation appropriate now?

Can the company generate enough upside surprise to keep our new found fast money shareholders happy?

I thought we only want stocks to run up quickly when we want to sell them.... (go small southwest company!)

What is PMCS really worth?

I'd rather leave room for next year, you and I are going to be here for a long time....

sign,

"rain on the parade"

TD
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